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Alright, so how do you actually *trade* WTI crude oil? The most common way is through the futures market. A *futures contract* is an agreement to buy or sell a specific quantity of a commodity (in this case, oil) at a predetermined price on a specified future date. The NYMEX (now part of the CME Group) is the primary exchange where WTI futures contracts are traded. Traders and investors use these contracts to speculate on price movements or to hedge against price risk. This means they are betting on the price of oil going up or down. If they think the price will increase, they'll *buy* a futures contract, and if they think it will decrease, they'll *sell* one.
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