NYMEX, the New York Mercantile Exchange, established 1872, is the biggest and well-known stock exchange worldwide. The history of NYMEX starts with the 19th century markets at ports and railroad stations and nowadays it plays the most important role in the worlds economy.
At the beginning, the lead business was in the food industry, eggs, diary products, poultry and dried fruits have been bought and sold. Today's trades pass off energy products, metals, agricultural materials and other commodities. Very well known is the trade of WTI and Brent Crude oil. These two types of oil belong to the most desired oil types in the world, also known as sweet, light oil.
The trades take place in two forms. During the day on the classical trading floor, while over night the electronic trading computer system controls the trade processes. Crude oil trade takes usually place between 15:00-20:30.
Since 1983 the Crude oil trading is the most heavily traded commodity. The trading unit is based on the 1,000 US barrels, which means 42,000 gallons of oil. The price fluctuation is also limited between. The lowest fluctuation takes $0.01, the usually maximum limit is $3.00.
The NYMEX is also known for adding statistics referenced to the future prices of the products. In the two images you will see the forthcoming fluctuation of the Brent Crude and WTI prices. While WTI is still growing, the Brent Curve shows a drop of almost 2%.
It's easy to believe that this process will go further, unless there is no natural catastrophe, or political incident, that could affect the development of the economy.