Oil trading hours: when to trade crude oil
Oil is the bedrock of the global economy, and fluctuations in its price can have widespread economic effects. Read on to discover the trading times of different oil markets, as well as how you can trade oil today.
What are the trading times of oil markets?
The most popular trading times of oil markets are between 1pm and 6.30pm (UK time) – which is when the New York Mercantile Exchange (NYMEX) is open, and the market often sees high liquidity. However, there are more hours available to you if you are looking to speculate on oil’s price.
IG offers CFD trading on spot crude, oil futures and oil options. Our spot times for Brent crude and US crude (WTI) are 11pm Sunday and 10pm Friday (UK time).
Alternatively, you can use CFDs to trade on the price of daily oil options with us at any time during our daily options market hours.
These run from 7.30am on Monday morning until 7.27pm on Monday night (UK time). After this, the market for Tuesday will open at 9pm on Monday evening, and close at 7.27pm on Tuesday evening (UK time). This process is repeated until Friday at 7.27pm (UK time) – when the markets close for the weekend.
You can find more information about our daily, weekly and monthly options offering on our dedicated options trading page.
| Market | Open (UK time) | Close (UK time) |
| Spot | 11pm Sunday | 10pm Friday |
| Futures | 11pm Sunday/ 1am Monday, Tuesday, Wednesday, Thursday, Friday | 11pm Monday, Tuesday, Wednesday, Thursday/ 10pm Friday |
| Options | 7.30am Monday/ 9pm Tuesday, Wednesday, Thursday | 7.27pm every weekday evening |
CFDs enable you to speculate on the price of oil without having to take ownership or delivery of the underlying market. This means that they can be used to take a position on the price of oil rising (by going long), as well as falling (by going short).
To trade oil today, follow the steps below:
- Create or log in to your IG account
- Understand what moves the price of oil
- Decide whether you want to go long or short
- Take steps to manage your risk
- Open and monitor your position
When is the best time to trade oil?
The best time to trade oil will depend on the current balance between supply and demand in the oil market. Any supply cuts made by the Organization of the Petroleum Exporting Countries (OPEC) will surely cause the price to rise – assuming demand remains the same. Any supply increases will surely cause the price to fall – with consistent demand.
Other factors will also affect the price of oil, such as the strength of the US dollar or any possible trade disputes between key oil producers – such as the US and Russia.
However, because you can speculate on the price of oil rising and falling with spread bets or CFDs, there is no one ‘best’ time to trade oil because you have the opportunity to profit from both rising and falling markets. That said, it is still important to carry out your own analysis on the oil markets to help you determine whether the price is going to rise or fall.
Learn more about what moves the price of oil
What are the ways to trade oil?
You can trade oil with CFDs on spot prices, on oil futures or on oil options.
- Spot prices enable you to take a position on the current market value of oil
- Trading futures enables you to take a position on the price of oil futures rising or falling
- Trading oil options means that you are speculating on the price of oil options
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
Please see important Research Disclaimer.
Speculate on commodities
Trade commodity futures, as well as 27 commodity markets with no fixed expiries.1
- Wide range of popular and niche metals, energies and softs
- Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
- View continuous charting, backdated for up to five years
1In the case of all DFBs, there is a fixed expiry at some point in the future.
Turn knowledge into success
Practice makes perfect. Take what you’ve learned in this commodities strategy article, and try it out risk-free in your demo account.
Ready to trade commodities?
Put the lessons in this article to use in a live account. Upgrading is quick and simple.
- Deal on our wide range of major and niche commodities
- Protect your capital with risk management tools
- Enjoy some of the best spreads on the market – Spot Gold from 0.3 points
Inspired to trade?
Put the knowledge you’ve gained from this article into practice. Log in to your account now.
