{"id":10156,"date":"2025-04-30T10:06:26","date_gmt":"2025-04-30T10:06:26","guid":{"rendered":"https:\/\/navia.co.in\/blog\/?p=10156"},"modified":"2026-08-07T08:29:41","modified_gmt":"2026-08-07T08:29:41","slug":"crude-oil-on-mcx-specs-insights-market-dynamics","status":"publish","type":"post","link":"https:\/\/navia.co.in\/blog\/crude-oil-on-mcx-specs-insights-market-dynamics\/","title":{"rendered":"Trading Crude Oil on MCX: Key Specs, Insights &amp; Market Dynamics"},"content":{"rendered":"<ul><li><a class=\"aioseo-toc-item\" href=\"#wti-vs-brent-crude-oil-key-differences\">WTI vs. Brent Crude Oil: Key Differences<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#price-correlation-and-spread\">Price Correlation and Spread<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#mcx-crude-oil-contracts-specifications\">MCX Crude Oil Contracts: Specifications<\/a><\/li><li><a class=\"aioseo-toc-item\" href=\"#frequently-asked-questions\">Frequently Asked Questions<\/a><\/li><\/ul>\n\n\n<p class=\"wp-block-paragraph\" style=\"line-height:1.8;text-align:justify;\">Navia Markets Ltd. offers <a href=\"https:\/\/navia.co.in\/blog\/category\/trading\/\">trading<\/a> in crude oil contracts on the <a href=\"https:\/\/www.mcxindia.com\/\" target=\"_blank\" rel=\"noopener\">Multi Commodity Exchange (MCX)<\/a>, which are based on West Texas Intermediate (WTI) crude oil. It&#8217;s important to understand the distinctions between WTI and Brent crude oil, as they often exhibit significant price differences.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"jetpack-video-wrapper\"><iframe title=\"The #1 Crude Oil Trading Error That&amp;apos;s WIPING OUT Your Profits\" src=\"https:\/\/www.youtube.com\/embed\/7uV2Mtk1pII?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\" style=\"border-left:4px solid #e8622f;background:#fdf1ec;padding:18px 22px;margin:1.5em 0;line-height:1.8;\"><strong>\ud83d\udca1 Quick Answer<\/strong><br>Navia offers crude oil futures and options on the Multi Commodity Exchange (MCX), based on West Texas Intermediate (WTI) rather than Brent. WTI is lighter and sweeter than Brent, making it cheaper to refine into gasoline. MCX lists a full-size CRUDEOIL contract of 100 barrels and a smaller CRUDEOILM mini contract of 10 barrels.<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-1\" id=\"wti-vs-brent-crude-oil-key-differences\" style=\"color:#023368\"><strong>WTI vs. Brent Crude Oil: Key Differences<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><td><strong>Feature<\/strong><\/td><td><strong>WTI (West Texas Intermediate)<\/strong><\/td><td><strong>Brent Crude<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>Origin<\/strong><\/td><td>U.S. (Texas, Louisiana, North Dakota)<\/td><td>North Sea (UK, Norway)<\/td><\/tr><tr><td><strong>API Gravity<\/strong><\/td><td>39.6\u00b0 (lighter)<\/td><td>38.0\u00b0 (light)<\/td><\/tr><tr><td><strong>Sulfur Content<\/strong><\/td><td>0.24% (sweeter)<\/td><td>0.37% (sweet)<\/td><\/tr><tr><td><strong>Delivery Point<\/strong><\/td><td>Cushing, Oklahoma (landlocked)<\/td><td>Offshore platforms (seaborne)<\/td><\/tr><tr><td><strong>Primary Use<\/strong><\/td><td>U.S. gasoline production<\/td><td>Global diesel and gasoline production<\/td><\/tr><tr><td><strong>Exchange<\/strong><\/td><td>NYMEX (CME Group)<\/td><td>ICE Futures Europe<\/td><\/tr><tr><td><strong>Price Influences<\/strong><\/td><td>U.S. supply-demand, storage capacity<\/td><td>Global geopolitical and supply factors<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\" style=\"line-height:1.8;text-align:justify;\">WTI is a lighter and sweeter crude oil, making it easier and cheaper to refine into gasoline and other petroleum products compared to Brent.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-fe48e5de wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color has-background has-link-color wp-element-button\" href=\"https:\/\/navia.co.in\/app.html\" style=\"background-color:#ec4d37\"><strong>Get Navia APP<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-2\" id=\"price-correlation-and-spread\" style=\"color:#023368\">Price Correlation and Spread<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\" style=\"line-height:1.8;text-align:justify;\">WTI and Brent crude prices are generally correlated, but the <a href=\"https:\/\/navia.co.in\/blog\/contango-vs-normal-backwardation\/?utm_source=blog&#038;utm_medium=internal_link&#038;utm_campaign=commodities\">spread<\/a> between them can vary due to factors such as regional supply-demand imbalances, transportation constraints, and geopolitical events. For instance, in April 2020, WTI <a href=\"https:\/\/navia.co.in\/blog\/what-is-futures-trading\/?utm_source=blog&#038;utm_medium=internal_link&#038;utm_campaign=commodities\" data-type=\"post\" data-id=\"9853\">futures<\/a> prices turned negative due to storage capacity issues at Cushing, Oklahoma, while Brent prices remained positive, highlighting the impact of regional logistics on pricing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-3\" id=\"mcx-crude-oil-contracts-specifications\" style=\"color:#023368\">MCX Crude Oil Contracts: Specifications<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\" style=\"line-height:1.8;text-align:justify;\">MCX offers trading in crude oil <a href=\"https:\/\/navia.co.in\/blog\/electricity-futures-a-new-trading-opportunity\/?utm_source=blog&#038;utm_medium=internal_link&#038;utm_campaign=commodities\">futures<\/a> and <a href=\"https:\/\/navia.co.in\/blog\/what-is-options-trading\/?utm_source=blog&#038;utm_medium=internal_link&#038;utm_campaign=commodities\" data-type=\"post\" data-id=\"9929\">options<\/a> contracts based on WTI crude. Below are the specifications:<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-4\" id=\"crude-oil-and-crude-oil-mini-futures-specifications\" style=\"color:#ec4d37\">Crude Oil and Crude Oil mini Futures Specifications<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><td><strong>Parameter<\/strong><\/td><td><strong>Crude Oil<\/strong><\/td><td><strong>Crude Oil Mini<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>Symbol<\/strong><\/td><td>CRUDEOIL<\/td><td>CRUDEOILM<\/td><\/tr><tr><td><strong>Lot Size<\/strong><\/td><td>100 barrels<\/td><td>10 barrels<\/td><\/tr><tr><td><strong>Price Quotation<\/strong><\/td><td>Per barrel in INR<\/td><td>Per barrel in INR<\/td><\/tr><tr><td><strong>Tick Size<\/strong><\/td><td>\u20b91 per barrel<\/td><td>\u20b91 per barrel<\/td><\/tr><tr><td><strong>P&amp;L per Tick<\/strong><\/td><td>\u20b9100<\/td><td>\u20b910<\/td><\/tr><tr><td><strong>Trading Hours<\/strong><\/td><td>9:00 AM \u2013 11:30 PM \/ 11:55 PM (DST)<\/td><td>9:00 AM \u2013 11:30 PM \/ 11:55 PM (DST)<\/td><\/tr><tr><td><strong>Contract Expiry<\/strong><\/td><td>19th of the contract month<\/td><td>19th of the contract month<\/td><\/tr><tr><td><strong>Settlement<\/strong><\/td><td>Cash settled<\/td><td>Cash settled<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/open.navia.co.in\/index-navia.php?utm_source=Organic&#038;utm_medium=blog&#038;utm_campaign=blog&#038;utm_content=crude_oil_CTA\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"149\" style=\"max-width:100%;height:auto;\" src=\"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/03\/OPEN-DEMAT-ACC.png\" alt=\"Open a Navia demat account to trade crude oil on MCX\" class=\"wp-image-9412\" srcset=\"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/03\/OPEN-DEMAT-ACC.png 1024w, https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/03\/OPEN-DEMAT-ACC-300x44.png 300w, https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/03\/OPEN-DEMAT-ACC-150x22.png 150w, https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/03\/OPEN-DEMAT-ACC-768x112.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-5\" id=\"crude-oil-and-crude-oil-mini-options-specifications\" style=\"color:#ec4d37\">Crude Oil and Crude Oil mini Options Specifications<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><td><strong>Parameter<\/strong><\/td><td><strong>Crude Oil<\/strong><\/td><td><strong>Crude Oil mini<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>Symbol<\/strong><\/td><td>CRUDEOIL<\/td><td>CRUDEOILM<\/td><\/tr><tr><td><strong>Underlying<\/strong><\/td><td>Crude Oil Futures (100 barrels)<\/td><td>Crude Oil Mini Futures (10 barrels)<\/td><\/tr><tr><td><strong>Option Type<\/strong><\/td><td>European Call &amp; Put Options<\/td><td>European Call &amp; Put Options<\/td><\/tr><tr><td><strong>Lot Size<\/strong><\/td><td>100 barrels<\/td><td>10 barrels<\/td><\/tr><tr><td><strong>Strike Price Interval<\/strong><\/td><td>\u20b950<\/td><td>\u20b950<\/td><\/tr><tr><td><strong>Premium Quotation<\/strong><\/td><td>Per barrel in INR<\/td><td>Per barrel in INR<\/td><\/tr><tr><td><strong>Tick Size<\/strong><\/td><td>\u20b90.05 per barrel<\/td><td>\u20b90.05 per barrel<\/td><\/tr><tr><td><strong>Trading Hours<\/strong><\/td><td>9:00 AM \u2013 11:30 PM \/ 11:55 PM (DST)<\/td><td>9:00 AM \u2013 11:30 PM \/ 11:55 PM (DST)<\/td><\/tr><tr><td><strong>Contract Expiry<\/strong><\/td><td>17th of the contract month<\/td><td>17th of the contract month<\/td><\/tr><tr><td><strong>Settlement<\/strong><\/td><td><em>All in-the-money (ITM) options on expiry devolve into futures contracts<\/em><\/td><td><em>All in-the-money (ITM) options on expiry devolve into futures contracts<\/em><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong>Do You Find This Interesting?<\/strong><\/p>\n\n\n\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-8f761849 wp-block-group-is-layout-flex\">\n<p class=\"wp-block-paragraph\">We\u2019d Love to Hear from you-<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/form.typeform.com\/to\/bpQ8ZlDc\"><img decoding=\"async\" width=\"300\" height=\"64\" style=\"max-width:100%;height:auto;\" src=\"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/02\/Yes-No-Button-1.png\" alt=\"feedback yes or no button\" class=\"wp-image-8901\" srcset=\"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/02\/Yes-No-Button-1.png 300w, https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/02\/Yes-No-Button-1-150x32.png 150w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/figure>\n<\/div>\n\n\n\n<h3 style=\"color:#ec4d37;\">Key Takeaways<\/h3>\n<ul style=\"margin:1em 0;line-height:1.9;\"><li style=\"margin-bottom:0.8em;line-height:1.8;\">Navia offers MCX crude oil contracts based on West Texas Intermediate (WTI), not Brent.<\/li><li style=\"margin-bottom:0.8em;line-height:1.8;\">WTI is lighter and sweeter than Brent, making it easier and cheaper to refine into gasoline.<\/li><li style=\"margin-bottom:0.8em;line-height:1.8;\">WTI is landlocked at Cushing, Oklahoma while Brent is seaborne from the North Sea, which drives their price spread.<\/li><li style=\"margin-bottom:0.8em;line-height:1.8;\">MCX lists both a full-size CRUDEOIL contract and a smaller CRUDEOILM mini contract in futures and options.<\/li><li style=\"margin-bottom:0.8em;line-height:1.8;\">The WTI-Brent spread moves with regional supply and demand, transport constraints and geopolitical events.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-6\" id=\"frequently-asked-questions\" style=\"color:#023368\">Frequently Asked Questions<\/h2>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\" style=\"background:#f1f1f1;border-radius:4px;margin-bottom:10px;\">\n<summary style=\"font-weight:600;font-size:17px;color:#1a2332;cursor:pointer;padding:16px 20px;\">What is the difference between WTI and Brent crude oil?<\/summary>\n\n<p class=\"wp-block-paragraph\" style=\"padding:0 20px 18px 20px;line-height:1.8;color:#333;margin:0;\">WTI originates in the U.S. and is delivered at Cushing, Oklahoma, while Brent comes from the North Sea and is seaborne. WTI is a lighter and sweeter crude oil, making it easier and cheaper to refine into gasoline and other petroleum products compared to Brent.<\/p>\n\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\" style=\"background:#f1f1f1;border-radius:4px;margin-bottom:10px;\">\n<summary style=\"font-weight:600;font-size:17px;color:#1a2332;cursor:pointer;padding:16px 20px;\">Which crude oil does MCX use for its contracts?<\/summary>\n\n<p class=\"wp-block-paragraph\" style=\"padding:0 20px 18px 20px;line-height:1.8;color:#333;margin:0;\">MCX offers trading in crude oil futures and options contracts based on West Texas Intermediate (WTI) crude.<\/p>\n\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\" style=\"background:#f1f1f1;border-radius:4px;margin-bottom:10px;\">\n<summary style=\"font-weight:600;font-size:17px;color:#1a2332;cursor:pointer;padding:16px 20px;\">What is the lot size of the MCX crude oil contract?<\/summary>\n\n<p class=\"wp-block-paragraph\" style=\"padding:0 20px 18px 20px;line-height:1.8;color:#333;margin:0;\">The Crude Oil contract has a lot size of 100 barrels and the Crude Oil Mini contract has a lot size of 10 barrels.<\/p>\n\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\" style=\"background:#f1f1f1;border-radius:4px;margin-bottom:10px;\">\n<summary style=\"font-weight:600;font-size:17px;color:#1a2332;cursor:pointer;padding:16px 20px;\">Why do WTI and Brent crude prices differ?<\/summary>\n\n<p class=\"wp-block-paragraph\" style=\"padding:0 20px 18px 20px;line-height:1.8;color:#333;margin:0;\">WTI and Brent crude prices are generally correlated, but the spread between them can vary due to factors such as regional supply-demand imbalances, transportation constraints, and geopolitical events.<\/p>\n\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\" style=\"background:#f1f1f1;border-radius:4px;margin-bottom:10px;\">\n<summary style=\"font-weight:600;font-size:17px;color:#1a2332;cursor:pointer;padding:16px 20px;\">What happens to MCX crude oil options at expiry?<\/summary>\n\n<p class=\"wp-block-paragraph\" style=\"padding:0 20px 18px 20px;line-height:1.8;color:#333;margin:0;\">All in-the-money (ITM) options on expiry devolve into futures contracts.<\/p>\n\n<\/details>\n\n\n\n<p class=\"wp-block-paragraph\" style=\"font-size:13px;line-height:1.6;color:#777;\"><strong>DISCLAIMER: Investments in the securities market are subject to market risks, read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Brokerage will not exceed the SEBI prescribed limit. Full disclaimer: https:\/\/bit.ly\/naviadisclaimer.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Navia Markets Ltd. offers trading in crude oil contracts on the Multi Commodity Exchange (MCX), which are based on West Texas Intermediate (WTI) crude oil. It&#8217;s important to understand the distinctions between WTI and Brent crude oil, as they often exhibit significant price differences. \ud83d\udca1 Quick AnswerNavia offers crude oil futures and options on the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ub_ctt_via":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[465],"tags":[56,311,540,1089,1113],"class_list":["post-10156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodity-trading","tag-commodity-market","tag-commodity-trading","tag-crude-oil-mcx","tag-energy-sector","tag-futures-contracts"],"aioseo_notices":[],"featured_image_src":"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/04\/Trading-Crude-Oil-on-MCX.png","author_info":{"display_name":"Navia Markets","author_link":"https:\/\/navia.co.in\/blog\/author\/tradeplusonline\/"},"jetpack_featured_media_url":"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/04\/Trading-Crude-Oil-on-MCX.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts\/10156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/comments?post=10156"}],"version-history":[{"count":14,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts\/10156\/revisions"}],"predecessor-version":[{"id":18985,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts\/10156\/revisions\/18985"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/media\/10164"}],"wp:attachment":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/media?parent=10156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/categories?post=10156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/tags?post=10156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}