Buying oil
 

is there a way to purchase oil futures? like if I think the price of oil will be higher in 6 months is there a way for me to "buy" it? Thanks for any help.

-Jason

Re: Buying oil
 

Open up a futures trading account. Example - Alaron, lind waldock, xpresstrade, etc.

Place a crude oil trade.

The New York Mercantile Exchange (NYMEX) LIGHT, SWEET CRUDE OIL E-MINY ENERGY FUTURE has an initial margin of $2363 where I trade (interactive brokers).

Trading Unit is 500 barrels. Minimum Price Fluctuation is $0.025 (2.5¢) per barrel ($12.50 per contract). So a $1.00 move in the price of oil will be a gain (or loss) of $500 per contract when trading this market.

Most brokerage firms have educational materials that can help you understand the basics of commodity trading if what I just wrote escapes your immediate understanding.

"The Futures Game" by Teweles and Jones is a good start for learning the basics of futures.