How do you trade crude oil?

[themickey]

...you do need to know fundamental side... without understanding them, you are just gambling. Technical analysis trading is only helpful if you accompany fundamental information. TA alone is gambling lol

May I respectfully disagree
When you trade, go against the crowd.
To succeed, don't follow conventional wisdom thrown to the masses via the media.
TA comes in different flavors, forget mainstream TA.
Forget mainstream FA.
Think outside the square. THINK originally.
All trading is gambling, like drugs there is the good and the bad. Taking a new job is a gamble, etc

 

[Robert Morse]

I am curious... what determines crude oil price other than supply/demand? is it US inflation rate?

Supply/Demand/Cost of carry+Storage

 

[themickey]

Supply/Demand/Cost of carry+Storage

.....seasonality, USD, political uncertainty, emergence of new technology, wars, threats of wars, rig counts, speculators, Algos....

 

[dealmaker]

I am curious... what determines crude oil price other than supply/demand? is it US inflation rate?

$

 

[Overnight]

.....seasonality, USD, political uncertainty, emergence of new technology, wars, threats of wars, rig counts, speculators, Algos....

Here I respectfully disagree. Go against the FA crowd and you may wind up in the wash. CL is not a lite-weight market. It is heavy shit. It is not as brutal as Gold on average, but it can be when the other side of the world blows up.

 

[AlfredGervais]

I am curious... what determines crude oil price other than supply/demand? is it US inflation rate?

economic and geopolitical events. any changes in these two factors can lead to variations in oil supply levels. this, in turn, will lead to oil price fluctuations. (see https://www.itrader.com/en/article/opec-oil-prices). And also a bit of Non-OPEC nations oil producers.

 

[java]

Lot of tail chasing. People buy Apple, stock market goes up, think economy is improving, may need more oil, whoops, economy not improving, too much oil, meanwhile nothing has changed, still producing the same still using the same, only thing that has changed is the price.

 

[murray t turtle]

I can find major determinants from journals on crude oil...thanks to you.
I've done a journal on crude oil but it was on human bias on round numbers so I did not cover any fundamental determinants.

Other than that, you do need to know fundamental side... without understanding them, you are just gambling. Technical analysis trading is only helpful if you accompany fundamental information. TA alone is gambling lol

%%
Good points victoryCo;but trading/investing is NOT gambling, @ all.To see the difference ====compare the way casinos treat card counters/winners LOL with the way brokers bankers treat stock/derivative market winners .
Partial discloser; i read fundamentals for fun. CME website, XOM + Shell Oil + Trading ........annual reports has among the best fundamentals info.............................................................. [i understand some use the word gamble meaning stupid risk] Good question, on price of oil;victoryCo

 

[murray t turtle]

Do you mean: I would recommend futures?

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Well Mr bizK; black ink on white screen said ''avoid futures' [Context=learning to trade]If you like big drama + big drawdowns LOL; ever thought about nat gas???Actually, long story short. If you did wanted to do nat gas, an ETF could mean you never get a margin call, big advantage; i seldom do nat gas, too much drama for me. I did not have big drawdowns[ nat gas ETFs]but its more risk; but like i said if you like big trends+ drama + drawdowns want to check out nat gas??

 

[murray t turtle]

.....seasonality, USD, political uncertainty, emergence of new technology, wars, threats of wars, rig counts, speculators, Algos....

%%
Oil price??
All that+ $$, XOM MRO. BP.....,King Salmon, supply + demand, price data, trends. Dont pay attention to silly stuff like ''peak oil'' LOL