crude oil futures

Crude oil futures are contracts that let buyers and sellers agree to buy or sell a specific amount of oil at a set price on a future date. They are used mainly to hedge against price changes or to speculate on the oil market. These contracts help ensure price stability and provide transparency. The value of crude oil futures fluctuates based on supply, demand, geopolitical events, and economic forecasts. Traders and companies use these futures to manage risks or profit from price movements, making them an essential part of the global energy and financial markets.