How to Trade Crude Oil: WTI vs. Brent and What Moves Prices
Crude oil is traded mainly through futures contracts on two global benchmarks, WTI (West Texas Intermediate), priced at Cushing, Oklahoma, and Brent, based on North Sea crude. Retail traders often access oil prices through contracts for difference (CFDs), which track these benchmarks without physical delivery. Oil prices respond to supply decisions by OPEC+ and other producers, global demand, weekly inventory data, the US dollar and geopolitical events. Oil can move several percent in a day, and leveraged positions can gain or lose value quickly.