Easy Forex has a good guide on purchasing oil futures. They will also provide guides for purchasing everything on the futures market from gold to wheat to pork bellies.
1979
Futures tickers are a little different from stocks. Each futures market has a ticker symbol that is followed by symbols for the contract month and the year. For example, crude oil futures have a ticker symbol - CL. The complete ticker symbol for December 2007 Crude Oil Futures would be - CLZ7. The "CL" stands for the underlying futures contract. The "Z" stands for a December delivery month. (F=Jan, G=Feb, H=Mar, J=Apr, K=May, M=June, N=July, Q=Aug, U=Sep, V=Oct, X=Nov, Z=Dec) The "7" stands for the year - 2007. This is the standard formula for futures ticker symbols. Some quote services are a little different.
To short oil, you can sell oil futures contracts or invest in inverse oil exchange-traded funds (ETFs) that aim to profit from a decline in oil prices. This allows you to make money if the price of oil decreases.
To invest in oil, you can buy shares of oil companies, invest in oil exchange-traded funds (ETFs), or trade oil futures contracts. It's important to research and understand the risks involved in oil investments before making any decisions.
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There are many risks and dangers associated with trading oil futures. The oil market is volatile and may pick itself back up quickly, which leaves futures high but oil prices low. Oil futures are also difficult to predict in price.
Commodoties futures trading involves buying and selling contract for the future delivery of raw materials e.g oil, gas, grain. Its regulates in the US by the Commodity Future Trading Commission and the main companies operatin in this arena are Orion Futures, Cannon Trading and United Futures.
Oil Futures are contracts that are legally binding. Buyer and seller have the obligation to take and make the delivery. Trading oil futures refers to the price oil is being traded at on the stock market.
1979
Sally Clubley has written: 'Trading in Oil Futures and Options' 'Trading in oil futures' -- subject(s): Commodity exchanges, Futures market, Petroleum industry and trade, Speculation
The price of oil futures is similar to any other stock or commodity, in that it's shown on most financial websites. One can find the price of oil futures online at Forex, Yahoo! Finance, Bloomberg, CNNMoney.
The symbol for crude oil futures traded on the New York Mercantile Exchange (NYMEX) is CL. This symbol represents West Texas Intermediate (WTI) crude oil, which is a benchmark for oil prices in the U.S. Crude oil futures contracts are typically quoted in U.S. dollars per barrel.
According to the MarketWatch website, the average 2013 price of crude futures oil is close to $100 a barrel. Prices for the August futures for Brent crude rose 71 cents.
Some good CME futures are soybeans, real estate, propane, lumber, gold, silver, crude oil, dairy, corn, live cattle, lean hog, copper, platinum, palladium, and wheat.
The New York Mercantile Exchange (NYMEX) began to trade heating oil futures in 1978. The exchange later introduced crude oil, gasoline, and natural gas futures. Airlines, shipping companies, public transportation authorities, home-heating-oil delivery services, and major multinational oil and gas companies have all sought to hedge their price risk using these futures contracts. In 1990 the NYMEX traded more than thirty-five million energy futures and option contracts. www.econlib.orglibraryEncFuturesandOptionsMarkets.html
The best place to check crude oil futures is CNN commodities section. This section allows viewers to get the latest prices for oil, gold, silver, copper, and more.
Brent crude oil futures are stocks whose price flactuates every now and then. This is affected by various factors in the market but mostly that of demand and supply.