how does one use crude oil 
while some traders purchase spot contracts on crude oil in which ownership of the oil changes hands at the moment and the price reflects the cost of crude at that moment it is far more common for traders to purchase futures contracts on oil with futures contracts the price agreed upon reflects what both the buyer and seller believe will be the price of oil at a predetermined future date those who trade on oil cfds are essentially predicting how the price of oil will move before the position closes 