: Always use a Stop-Loss order to automatically close your position if the price moves against you.

: Most retail platforms do not allow physical delivery. You must "roll" your position into the next month or close it before the expiration date to avoid being legally obligated to receive actual barrels of oil.

: Traded on ICE (and CME with ticker BZ ), this is the international benchmark. Contract Sizes :

: Represents 1,000 barrels. Every $0.01 price move (one "tick") is worth $10.

: Represents 100 barrels (1/10th the size). This is ideal for beginners as it requires significantly less margin and capital. 3. Place and Manage Your Trade

Buying oil futures allows you to speculate on or hedge against the future price of crude oil without having to take physical delivery of the barrels. To start trading, you must open a specialized futures trading account with a registered broker and meet specific margin requirements. 1. Set Up a Futures Trading Account

: Initial funding requirements vary; while some brokers only require $500–$1,500, trading standard contracts often demands several thousand dollars in "performance bond" or initial margin. 2. Select the Right Oil Contract