WTI Crude Oil (CL) November (X) contract study: year-by-year results, the day-by-day shape of the move and where highs and lows printed.
Contract Almanac · WTI Crude Oil
Every November crude contract 2010–2025, measured over its tenure as the lead contract · Typically leads Sep 18 – Oct 17
The November contract is the anti-trender. Where most CL months finish near their extremes, this one puts its highs and lows in the middle and round-trips: the defining extreme landed in the final five sessions in just 4 of 16 years, the lowest count on the board. It leads from mid-September to mid-October and has ended, on average, almost exactly where it started.
Each year is one contract, measured from the open of the day it took over the lead to the close of the day it handed off, the same roll convention used across all Traders Brief research. Tenure lengths vary by a few trading days from year to year, so day counts differ slightly at the tail. All highs and lows are the contract’s own trades, marked by trading day of the tenure, not calendar day.