I want to buy Oil, what is the symbol, exchange and contract?

hi all,

Oil is at 15$ these days and it has to go up. Saudi arabia needs it to be around $75 to run its daily affair. it will not stay at this level. please tell me how to buy it at Interactive brokers and what data feeds i need to be member for it at IB. Thank you

 

USO

 

Hey Tune,

you don't need oil.

You need more knowledge & experience while protecting your savings/capital.
(Buy books/watch videos and learn/practice with sim/demos, because based on your question, it looks that you're lacking the basic information/understanding about financial industry and came here right after, reading some advertising article on yahoo finance)


Yet, if you persist (and you should always do so),
- the answer to your question :

+


https://thepoorswiss.com/buy-etf-interactive-brokers-account-management/

 

USO like the last poster mentioned. I own some and will add more but waiting for it to drop below $3 which would probably mean sub $10 oil prices

 

That price is the May contract. The May CL future Last Trading Day is tomorrow. The June CL future is higher. https://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude_quotes_globex.html

 

3.8 USD for USO?
why it show $13 to 15$ range on internet ...i just want to be sure i'm buying right symbol

 

very typical to see that when price is soo low, many people started to be very interested to buy.
and there will be many similar postings in ET.

Nothing wrong with that if you are doing day trading.

anyway today there are 2 opportunities to short oil;
one during early Asian session,
and one during European session.

there is also one opportunity to long oil during today Asian session.

 

If you need Oil, you have to buy the canister first )))

 

Thank you for you adive. .. it can't be USO show price around $4 ... these days oil maket price is 13-15$ rang.

 

TradeTune-did you read my response? You can't buy the May contract at that price level unless you are going to take delivery. You need to look at later month futures and they are over $20/barrel.