CME Group, the world’s leading derivatives marketplace, has announced plans to introduce new, smaller-sized futures contracts for WTI crude oil and gold, expanding their trading hours to 24 hours a day, seven days a week. Pending regulatory approval, the new contracts aim to provide traders with more flexible and accessible options for managing risk in volatile markets.
The new WTI crude oil futures contract will represent 10 barrels of oil, which is one-tenth the size of the existing Micro WTI futures contract and only one-hundredth the size of the standard benchmark WTI contract that covers 1,000 barrels. This smaller contract will be cash-settled and listed on the New York Mercantile Exchange (NYMEX), with trading scheduled to begin on August 30, 2026. The move is designed to lower the entry barrier for retail traders and smaller commercial participants who want precise hedging without committing to large contract sizes.
In addition to the new oil contract, CME Group will extend its existing 1-ounce gold futures contract to full 24/7 trading starting July 26, 2026. Currently, gold futures trade nearly around the clock on CME Globex but do not cover weekends. The transition will allow continuous price discovery and enable traders to react immediately to geopolitical developments, central bank announcements, and economic data released outside regular U.S. business hours. The 1-ounce gold futures are cash-settled and listed on COMEX.
Derek Sammann, Senior Managing Director and Global Head of Commodities Markets at CME Group, highlighted that the launch of these right-sized contracts available around the clock reflects growing trader demand for diversified commodity exposure amid geopolitical uncertainty. He emphasized that these regulated products help market participants manage risk whenever significant news breaks.
Market interest in WTI crude oil has surged significantly. In May 2026, Micro WTI Crude Oil futures averaged 272,000 contracts traded daily—a 317% increase compared to May 2025. Meanwhile, WTI Crude Oil options reached a record average daily volume of 320,000 contracts in the first quarter of 2026. CME Group’s gold franchise also remains strong, with approximately $100 billion in notional gold value traded daily and an average daily volume of around 90,000 contracts for the 1-ounce gold futures in 2026.
Both the new smaller oil contract and expanded gold trading hours are expected to attract a wider range of traders including retail investors who are familiar with continuous trading seen in cryptocurrency markets. By offering these smaller, cash-settled futures on a nearly nonstop basis, CME Group is enhancing market access and allowing participants more flexibility in managing their positions.
These changes mark an important evolution in commodity futures trading by providing more granular tools for risk management and ensuring that global traders can engage with key energy and precious metals benchmarks at any time. The launches are subject to final regulatory approval but represent concrete steps toward more inclusive and responsive commodity markets.
