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What is crude oil?
Crude oil is a form of petroleum that can be refined into various products to power the global economy. While you’ll often hear one price quoted for oil, there are actually lots of different types.
The different oil types are referred to as benchmarks, and all signify a specific drilling location and quality of product. The highest quality of oil tends to be low in sulphur (referred to as ‘sweet’ by oil traders) and low in density (referred to as ‘light’). The three major benchmarks are Brent crude, WTI, and Dubai/Oman.
In addition to crude oil, you can also trade markets like natural gas, or heating oil.
Can I trade oil with CFDs?
Yes. Buying or selling a single oil CFD is the equivalent of trading a single oil future. Buying a Brent crude CFD, for instance, is the same as buying 1000 barrels in the underlying market.
You can trade in fractions of a contract to limit your exposure, and speculate on both rising and falling markets. Find out more about CFD trading.