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Just as it’s important for grain traders to watch a WASDE report, it is equally important for oil and gas traders to watch the release of an energy report. There are two weekly reports about the amount of crude oil inventory in the United States: the EIA Weekly Petroleum Status Report and the API Weekly Statistical Bulletin.
Perhaps the most controversial debate of our age is the amount of oil we have left to pump from the earth. Some speculate as many as hundreds of years, while others say we may experience an output shortage as early as 2015.
Futures contracts, including trading in crude oil futures, are financial instruments that carry with them legally binding obligations. Buyer and seller have the obligation to take or make delivery of an underlying instrument at a specified settlement date in the future. Oil futures are part of the derivatives family of financial products as their value… Read more.