Price is per barel. Although o e contract consists of 1000 barells. So the price is $1 for the future but you would have to pay $1000 to buy one contract. It is

Price is per barel. Although o e contract consists of 1000 barells. So the price is $1 for the future but you would have to pay $1000 to buy one contract. It is similar with options, alyhogh 100 pcs is standard there.