Importance of Oil Futures

(Brighthub) The major financial cable channels, newspapers and websites all provide quotes on the current price of oil futures. A knowledge of the history of the price of oil futures can be used to judge many aspects of the economy and in what direction it might be headed. The U.S. consumes approximately 20 million barrels of oil every day. At $100 a barrel that is $2 billion worth of daily economic activity even before the oil is turned into gasoline, diesel fuel, heating oil and chemicals. Continue reading →