Crude Oil Futures Price Online

Get in-depth information about Crude Oil Futures including Price, Charts, Technical Analysis and Historical data.

Technical Analysis Crude Oil Futures

What are Crude Oil Prices?

Crude oil, also known as North American crude oil, is the underlying instrument for trading oil extracted from US land and coastal waters. Its biggest counterpart is Brent Oil – a benchmark for North Sea crude oil.

Oil CFD is a financial derivative which follows price changes in Crude oil futures, the world’s largest and most traded commodity. Oil futures CFDs are traded on Plus500’s trading app 23 hours a day, 5 days a week, based on price quotes provided by the New York Mercantile Exchange – a leading commodity futures market which is part of the Chicago Mercantile Exchange (CME).

Why Trade Oil CFDs?

Benefits of using the Plus500 app to trade oil futures CFDs include:

  • Competitive spreads with zero trading commissions.
  • Access to high levels of liquidity and volatility due to the nature and popularity of oil.
  • The oil market is open for trading 23 hours a day, 5 days a week.
  • Free-of-charge automatic rollover from old to new contracts.
  • You can trade in any direction – Selling is just as accessible as Buying.
  • Our customer support team is here for you 24/7.

How are International Crude Oil Prices Determined?

There are a number of different types of crude oil, with different pricing characteristics. The two leading international crude oil prices are:

NYMEX WTI Crude Oil – determined according to a benchmark in oil futures contracts as traded on CME’s New York Mercantile Exchange.

Brent Oil – determined according to an international benchmark used primarily in Europe, and traded on the Intercontinental Exchange (ICE).

Another important oil pricing benchmark is the OPEC Basket which includes an aggregate for oil produced and exported by the countries of the Organization of Petroleum Exporting Countries, with Saudi Arabia being its chief member.

How to Start Trading Oil CFDs?

Follow these 7 steps in order to trade oil CFDs with Plus500:

  1. If you don’t already have a Plus500 trading account, click here.
  2. Register your details and deposit funds via bank transfer, credit card and more.
  3. Navigate to oil under ‘Commodities’ or search for ‘Oil’ in the search bar.
  4. Check for upcoming economic events that have an effect on oil prices, such as the US weekly petroleum status report and OPEC meetings.
  5. Manage your risk and profit by adding stop orders such as 'Close at Loss' and 'Close at Profit'.
  6. Open a Buy or Sell position according to the direction you expect oil to move.
  7. When you want to close out your position, click on the ‘Close’ button.