[CME Shrinks WTI Futures to 10 Barrels, Trade Crude Oil for $860] Odaily Planet Daily News: The Chicago Mercantile Exchange (CME) Group launched a new WTI crude oil futures contract last Sunday, with each contract representing only 10 barrels of crude oil. Based on current prices, the trading size is approximately $860. In comparison, CME's previous micro WTI contracts and standard contracts corresponded to 100 barrels and 1,000 barrels, respectively. This change further opens up the crude oil futures market, which previously required significant capital to participate, to individual investors. Online brokerage platforms, exchange-traded funds (ETFs), and small-scale futures contracts have, over years of development, continued to lower the barriers for retail investors to participate in this market, which is valued at approximately $3 trillion. However, increased retail participation does not mean that individual investors can influence crude oil prices in the same way they might in certain stock markets. Professional institutions and commercial capital still control larger trading volumes and play a dominant role in the formation of benchmark prices. CME's introduction of the 10-barrel WTI crude oil contract primarily changes the way retail investors participate in the crude oil market, rather than altering the core forces that determine oil prices. Production, consumption, inventory, and geopolitical factors will continue to play a major role in influencing crude oil prices. (CNBC)