From the NYMEX website
Light Sweet Crude (CL)
Futures: 1,000 U.S. barrels (42,000 U.S. gallons)
Options: One light, sweet crude oil futures contract.
Trading Months
Futures: 30 consecutive months commencing with the next calendar month plus long-dated contracts listed at 48, 60, 72, and 84 months prior to delivery.
Options: 12 consecutive months plus 3 long-dated options initially listed at 18, 24, and 36 months out on a June-December cycle.
Price quotation: In dollars and center per barrel for both futures and options.
Minimum price fluctuation: $0.01 per barrel ($10 per contract)
Last trading day
Futures: trading ends at the close of business on the third business day prior to the 25th calendar day of the month preceding the delivery month.
Options: Trading terminates three business days before the underlying futures contract.
Delivery – Cushing, OK
No. 2 Heating Oil (HO)
Futures: 42,000 U.S. gallons (1,000 barrels)
Options: One heating oil futures contract.
Trading Months
Futures: 18 consecutive months commencing with the next calendar month.
Options: 12 consecutive months
Price quotation: In dollars and center per gallon for both futures and options.
Min price fluctuation: $0.0001 (0.01 cent) per gallon ($4.20 per contract)
Last trading day
Futures: trading ends at the close of business on the last business day of the month preceding the delivery month.
Options: Trading terminates three business days before the futures contract.
Delivery – New York Harbor
Henry Hub Natural Gas (NG)
Futures: 10,000 Million British thermal units (MMBtu)
Options: One Henry Hub natural gas futures contract.
Trading Months
Futures: 36 consecutive months commencing with the next calendar month.
Options: 12 consecutive months plus long-dated options initially listed at 15, 18, 21, 24, 27, 30, 33, and 36 months out on a June-December cycle.
Price quotation: In dollars and center per MMBtu for both futures & options.
Minimum price fluctuation: $0.001 (0.1 cent) per MMBtu ($10 per contract)
Last trading day
Futures: trading ends three business days prior to the first day of the delivery month.
Options: Trading terminates at the close of business on the business day immediately preceding the expiration of the underlying futures contract.
Delivery – Sabine Pipe Line Co.’s Henry Hub in Louisiana.
Terminology
Bcf – Billion cubic feet.
Mcf – Thousand cubic feet.
MMCF – One Million cubic feet.
Btu – British thermal unit. The amount of heat required to increase the temperature of one pound of water 1°F.
MMBtu – One million British thermal units or one dekatherm. Approximately equal to 1,000 cubic feet of natural gas or 1 Mcf.