The New York Mercantile Exchange To Expand Position Limits For Light, Sweet Crude Oil Futures And Other Related Contracts

Exchange, Inc., announced today that it will expand the expiration position limits for its light, sweet crude oil futures contract and certain other crude oil contracts, effective November 16 for the December 2004 contract month.

The position limits, which are in place during the last three trading days, will be increased to 1,500 contracts from 1,000 and will also apply to the West Texas Intermediate (WTI) calendar swap futures contract, the crude oil average price options contract, and the crude oil European-style options contract.