Not Financial Advice: The cost of one oil futures contract may vary as real-time market data may change over time. Current Crude Oil Futures is at around $31.25.
One oil futures contract controls 1,000 barrels of oil, therefore you have to multiply 1,000 barrels by the current price of oil. Currently, oil trades at $31.25 so if you multiply it by 1,000 barrels the cost to trade one future is $31,250.
Oil futures contracts are primarily traded on the CME Group Exchange and the ICE Exchange.
With the price of oil skyrocketing (the price recently increased by 14% in a single week), you may be wondering if now is the right time to invest in this commodity. There are plenty of ways to get in on the oil industry. For example, you can buy stocks of oil and drilling companies. But one of the most profitable – and riskiest – investments you can make is in oil futures.
To help you decide if they’re a good addition to your investment portfolio, learn about the pros and cons of investing in them at Moneycrashers.com.