What is crude oil and what are petroleum products?
What we call crude oil and petroleum fossil fuels are a mixtures of hydrocarbons that formed from the remains of animals and plants that lived millions of years ago.
Over millions of years, these remains of the animals and plants were covered by layers of sand, silt, and rock. Heat and pressure from these layers then turned the remains into what we now call crude oil or petroleum. The word petroleum means rock oil or oil from the earth.
Oil trading is the buying and selling of oil. This can be done by buying the physical commodity, or speculating on its price. Oil is a finite resource, its price can see massive volatility due to supply and demand changes.
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