CME Group to launch 10-barrel WTI crude oil and 24/7 gold futures

CME Group is extending 24/7 trading to smaller-sized crude oil and gold futures, expanding around-the-clock access to two of the world's most traded commodity benchmarks.

CME Group will offer 24/7 trading for a new 10-barrel WTI crude oil contract and its existing 1-ounce gold futures, the exchange said Thursday, extending always-on access beyond the crypto and volatility products it launched earlier this year.

"Traders are increasingly looking to diversify their portfolios across commodity markets in the face of geopolitical uncertainty," said Derek Sammann, CME Group senior managing director and global head of commodities markets. "Our new WTI and gold futures provide regulated products that are right-sized and available 24/7, ensuring traders can manage exposure whenever news breaks."

The new oil contract, sized at one-tenth of the existing Micro WTI futures, will launch Aug. 30 on NYMEX and be cash-settled. Around-the-clock trading for the 1-ounce gold contract on COMEX begins July 26. The expansion follows record volumes across CME's energy complex: WTI crude oil options reached an average daily volume of 320,000 contracts in the first quarter, while Micro WTI futures ADV hit 272,000 contracts in May, up 317% from a year earlier.

The move deepens CME's push into 24/7 markets, following the May launch of around-the-clock trading for bitcoin volatility index futures and the Nasdaq CME Crypto Index futures. With about $100 billion in gold notional traded daily on CME in 2025 and the 1-ounce contract averaging 90,000 contracts ADV this year, the exchange is betting that continuous price discovery will attract a broader base of participants seeking to hedge risks outside traditional hours.

CME's decision to right-size its commodity contracts comes as trading activity across its energy and metals complex surges. The exchange reported record total ADV of 33.2 million contracts in May, up 15% year over year, driven partly by the 317% surge in Micro WTI volumes. The new 10-barrel contract, priced at one-tenth of the micro contract, lowers the barrier for retail traders and smaller institutions to hedge or speculate on crude oil prices.

The 1-ounce gold contract, launched in January 2025, has already accumulated 90,000 contracts in average daily volume in 2026, reflecting strong demand for smaller-denomination precious metals exposure. CME's gold benchmark saw about $100 billion in notional value trade daily last year.

CME's expansion comes as a growing number of platforms race to offer continuous trading for traditional assets. Pyth Network launched 24/7 proprietary indices for U.S. equities, oil and metals on June 10, while Chainlink rolled out 24/5 U.S. equities data streams in January. The trend has been accelerated by Hyperliquid's success in launching 24/7 markets for traditional assets, which has drawn the attention of major exchanges including CME and Intercontinental Exchange.

CME separately announced Thursday a multi-year licensing agreement with Morningstar to launch derivatives on Morningstar Market Indexes, further broadening its product suite beyond commodities and crypto. The Chicago-based derivatives giant, with a market capitalization of $95.6 billion, continues to expand its product offerings as revenue grew 7.5% over the last 12 months.

This article is for informational purposes only and does not constitute investment advice.