Welcome to Oil Trading
Oil is one of the world’s most widely traded and consumed commodities. Oil trading takes place across the world, as nearly all economies are reliant on oil to some extent. Not only does oil provide the fuel for cars, trucks and other vehicles. Oil is also a raw material for many chemical and industrial processes and as such is almost indispensable to us.
What happens to the price of oil and in oil trading matters on a global scale. You can trade oil through W-Tactic as a cash-settled CFD or Contract for Differences and we offer oil CFD contracts on both Brent and WTI crude oil.
Oil is traded in barrels each barrel contains 42 gallons or 158.98 litres of oil. The term barrel dates back to the late 19th century when a wooden barrel containing 42 gallons of crude oil became the standard unit for transportation and trading purposes. These days of course oil is transported in giant oil tankers or through pipelines.
Oil is traded in barrels each barrel contains 42 gallons or 158.98 litres of oil. The term barrel dates back to the late 19th century when a wooden barrel containing 42 gallons of crude oil became the standard unit for transportation and trading purposes. These days of course oil is transported in giant oil tankers or through pipelines.
Both WTI and Brent Crude oil are traded as futures contracts, WTI is traded on the New York Mercantile Exchange or NYMEX. that is now part of the Chicago Mercantile Exchange or CME. Whilst Brent crude was traditionally traded on London’s IPE or International Petroleum Exchange, which is itself now part of ICE, the Intercontinental Exchange.
