Trading in the oil market, primarily focused on Crude Oil (WTI and Brent), involves navigating a highly volatile and globally influenced commodity. Strategies often center on reacting to or anticipating shifts in supply and demand fundamentals. Supply-side factors include OPEC+ production decisions, geopolitical tensions in major oil-producing regions (e.g., Middle East), changes in US shale oil output, and disruptions from natural disasters. Demand-side factors are driven by global economic growth, industrial activity, transportation needs, and energy policies. Traders may employ trend-following strategies, riding sustained price movements influenced by long-term supply/demand imbalances. Breakout strategies capitalize on price breaking key support or resistance levels. News trading is prominent, reacting quickly to inventory reports (EIA, API), geopolitical headlines, and OPEC meetings. Futures contracts are the primary vehicle for trading oil, offering significant leverage but also substantial risk. Hedging is common for producers and refiners. Given oil's role as a critical global energy source, its price movements have far-reaching economic implications, requiring comprehensive fundamental and technical analysis for successful trading.