What are oil futures trading at right now? (2024)

What are oil futures trading at right now?

Today's WTI crude oil spot price of $76.89 per barrel is up 4.61% compared to one week ago at $73.50 per barrel.

What is oil trading at right now?

Today's WTI crude oil spot price of $76.89 per barrel is up 4.61% compared to one week ago at $73.50 per barrel.

What are oil futures trading at?

Recent Contracts
Crude Oil WTI (NYM $/bbl) Front Month$79.220.03
Crude Oil Apr 2024$78.24-0.22
Crude Oil May 2024$77.78-0.20
Crude Oil Jun 2024$77.28-0.20
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What are the best hours to trade oil futures?

The prime time trade would be in the morning, typically around 9.00 a.m. to 10.30 a.m., when the market has just started. Traders would be bidding their price right at that moment, so you'll have a great look at all the entries, and it'll save you from the worry and annoyance of the entire day.

How much is a tick of crude oil futures?

The tick size of the NYMEX WTI Crude Oil contract is equal to 1 cent and the WTI contract size is 1,000 barrels. Therefore, the value of a one tick move is $10.

What is Brent crude futures?

The ICE Brent Crude futures contract is a deliverable contract based on EFP delivery with an option to cash settle against the ICE Brent Index price for the last trading day of the futures contract.

How are oil prices traded?

Crude oil is traded in the futures markets. A futures contract is a standard contract to buy or sell a specific commodity of standardized quality at a certain date in the future. If oil producers want to sell oil in the future, they can lock in their desired price by selling a futures contract today.

What time to buy oil futures?

Trading Times

Electronic trading of crude oil futures is conducted from 6:00 p.m. U.S. until 5:00 p.m. U.S. ET via the CME Globex® trading platform, Sunday through Friday.

What makes oil futures go up?

Demand from major countries. The price of crude oil jumps when there is a larger demand, and that tends to happen at the beginning, middle and end of the year. Winter — covering the beginning and end of years — can see oil prices climbing as consumers demand more oil for heating their homes and businesses.

What's happening with oil prices today?

WTI Crude79.19+1.49%
Brent Crude83.47+0.74%
Murban Crude82.86+0.70%
Natural Gas1.609+1.77%
Gasoline •1 day2.336+0.76%
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What are stock futures doing right now?

Futures Market Data
NameLastChg %
E-Mini Nasdaq 100 Index Continuous Contract$17,783.750.61%
E-Mini Dow Continuous Contract$38,4150.21%
E-Mini S&P 500 Future Continuous Contract$4,990.500.39%
Silver Continuous Contract$22.045-0.49%
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How long do oil futures last?

For crude oil, each contract expires on the third business day prior to the 25th calendar day of the month preceding the delivery month. If the 25th calendar day of the month is a non-business day, trading ceases on the third business day prior to the business day preceding the 25th calendar day.

Do oil futures affect oil prices?

Financial markets

Futures contracts are also a part of oil pricing. Companies can purchase oil through an agreement called a futures contract. "Futures" are contracts between a buyer and a seller to complete a transaction at a determined point in the future for a particular commodity — in this case, oil.

How do I buy oil futures?

You buy a stake in an oil futures contract on the New York Mercantile Exchange (NYMEX) through a broker, paying a certain price per barrel of crude oil for 1,000 barrels.

How many barrels of oil are in a futures contract?

commodity info
Barchart SymbolCL
Contract Size1,000 U.S. barrels (42,000 gallons)
MonthsAll Months
Trading Hours5:00p.m. - 4:00p.m. (Sun-Fri) (RTH 8:00a.m. - 1:30p.m.) (Settles 1:30p.m.) CST
Value of One Futures Unit$1,000
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What's the price of a barrel of oil today?

Crude Oil & Natural Gas
CL1:COM WTI Crude Oil (Nymex)USD/bbl.79.19
CO1:COM Brent Crude (ICE)USD/bbl.83.47
CP1:COM Crude Oil (Tokyo)JPY/kl75,500.00
NG1:COM Natural Gas (Nymex)USD/MMBtu1.61

What's the difference between crude oil and Brent oil?

Let's explore these differences in more depth. Extraction locations: WTI Crude Oil is extracted from fields located in Texas, North Dakota, and Louisiana of the United States. Brent Crude is extracted from the North Sea near Europe; its oil fields include Brent, Ekofisk, Forties, and Oseberg.

What does WTI mean in oil?

“West Texas Intermediate” (WTI) oil is another benchmark used by oil markets, representing oil produced in the U.S. It is based on oil at a large tank and pipeline hub in Cushing, Oklahoma. Like Brent oil, WTI is priced as a light oil, but it doesn't have the same global reach.

How much do oil traders make?

The estimated total pay for a Oil Trader is $166,379 per year in the United States area, with an average salary of $103,191 per year. These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users.

How do oil traders make money?

As trading oil as a CFD does not involve physical ownership, traders can profit from changes in price in either market direction. For example, if a trader expects oil to drop from its current price of $70 per barrel in the next few months, they can sell an oil futures CFD contract at $65 per barrel.

Who controls the price of oil today?

Like most commodities, the fundamental driver of oil's price is supply and demand in the market. The cost of extracting and producing oil is also an important factor. Oil markets are composed of speculators who are betting on price moves, and hedgers who are limiting risk in the production or consumption of oil.

Are oil futures a good investment?

In addition to liquidity, crude oil also offers investors a great chance at profitability. Oil prices are in a constant state of flux and change rapidly based on news or market conditions. This volatility gives investors plenty of opportunities to realize large profits if they are able to time the market right.

What is the best time of day to trade oil?

The most favorable times for trading crude oil often coincide with overlapping sessions of major financial markets. The period between 8:00 AM and 12:00 PM Eastern Time (ET) is particularly active, aligning with the overlapping of the London and New York sessions.

Should I hold futures overnight?

Futures contracts are agreements to buy or sell a specific asset at a predetermined price at a future date. Therefore, holding an overnight position in futures trading could mean potentially significant profits or losses, depending on market volatility and the trader's ability to predict market trends.

Can you make money on oil futures?

**Speculative Trading:** Traders can buy or sell oil futures contracts based on their predictions of future price movements. If they anticipate prices will rise, they go long; if they expect prices to fall, they go short. Profits are made from price changes.

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