Oil trading works by speculating on the price of Brent Crude (XBRUSD) or WTI Crude (XTIUSD) without taking physical delivery.
You go long if you expect the price to rise or go short if you expect it to fall. Your profit or loss equals the difference between your entry price and exit price, calculated on the full position size.
Oil prices react to weekly EIA inventory reports, OPEC+ production decisions, and geopolitical supply disruptions, creating short-term trading opportunities in both directions.