Trading in OIL

Oil trading at Easy-Forex® is performed in the same way as Foreign Currencies Trading. It is OTC (Over the Counter) trading which means that the transaction is performed directly between the two parties involved - the buyer and the seller. There is no third party involved, like in an exchange market.

The acronym for oil is OIL. It is measured in barrels but as it is cash settled (non-delivery trading) the physical purchase or sale of the commodity is not actually performed.

Easy-Forex® bases its contract on the US standard for OIL trading, namely the WTI (West Texas Intermediary). Also known as Texas Light Sweet, WTI is a type of crude oil used as a benchmark in oil pricing and the underlying commodity of the New York Mercantile Exchange's (NYMEX) oil futures contracts.