Oil Futures Symbol

34-35 dollars per barrel.

go buy the USO. or get an account NYMEX futures with Interactive Brokers.

CLH9 is the product code for 09 Mars Futures West Texas Intermediate NYMEX.

You must first have a brokerage account for which the trade in these instruments.
Now for the part techno oil are contracts where a contract is 1,000 barrels of oil. Therefore, the minimum exposure, you will at their current level is $ 35,000. Futures contracts are traded "on margin", which is typically 10% of exposure to a minimum so that you would pay $ 3,500 to start. Of course, if oil falls, so your line will fall with it, you should always maintain a certain amount in the margin account and your broker is expected to cover by the end of the day. If you can not cover those margin calls, your position will be sold at a loss.

Oil is currently in contango, meaning that the futures price is higher than the spot price. The problem is that if you see oil at $ 35 a barrel, the future is actually trading at $ 38. Each month there is another contract and a contract from December 09 is trading at $ 60. This means that if you buy a contract for March and oil prices do not change, then you lose money, even if the oil price remains the same or even goes by a couple of dollars.

Regarding the suggestions above to purchase the USO is a fund of CAS, based on the futures contract nearest available and put at the end of the month. This means that each month the contract for the future rolls 2 months to come, which as already said, is at a premium. People are hammered by this product, because they lose 5-12% each month according to the report. I can not stress this enough, everyone who wants to buy oil, find a product that the average of its futures contracts or is based on total return swaps! (USL is a global medium and CRUD: LN is based on total return swaps)

USO

best buy USO.

do not do that !!!!!