Crude Oil Futures

Before we start let me introduce you the meaning of the crude oil itself, it has facts but sometime being subjective to people.

Crude Oil can be define as:

• A mixture of hydrocarbons that exists as a liquid in natural underground reservoirs and remains liquid at atmospheric pressure after passing ...
  www.caltex.com.au/products_glo.asp
• Liquid petroleum as it comes out of the ground as distinguished from refined oils manufactured out of it.
  www.rrc.state.tx.us/divisions/og/glossary.html
• Crude oil is the mixture of petroleum liquids and gases (including impurities such as sulphur) that is pumped out of the ground by oil wells.
  www.climatechangenorth.ca/H1_Glossary.html
• unrefined liquid petroleum. It ranges in density from very light to very heavy and in color from yellow to black, and it may have a paraffin, asphalt, or mixed base.
  sln.fi.edu/fellows/fellow2/jan99/new/oilvocab.html
• Liquid petroleum as it comes out of the ground. Crude oils range from very light (high in gasoline) to very heavy (high in residual oils). Sour crude is high in sulfur content. Sweet crude is low in sulfur and therefore often more valuable.
  www.maverickenergy.com/lexicon.htm
• A mineral oil consisting of a mixture of hydrocarbons of natural origin, yellow to black in colour, of variable specific gravity and viscosity
  www.primarypetroleum.com/index.php
• A naturally occurring mixture of liquid hydrocarbons as it comes out of the ground (before or after any dissolved gas has been separated from it, but prior to any process of distilling or refining). ...
  www.crownexploration.com/oil-gas-glossary.php
• petroleum in its natural state prior to any refining process. Main elements are hydrogen and carbon.
  www.pwsrcac.org/resources/glossary.html
• Crude oil - as petroleum directly out of the ground is called - is a remarkably varied substance, both in its use and composition. It can be a straw-colored liquid or tar-black solid. Red, green and brown hues are not uncommon.
  www.oregon.gov/ENERGY/CONS/Industry/Definitions.shtml
• The basic raw mineral pumped from the earth. There are many different grades of crude, each containing various vapors, liquids and solids. ...
  www.mapl.com/about/termoil.html
• This is the oil product from the extraction process. Crude oil contains a number of undesirable compounds that are removed in the refining process.
  www.extension.iastate.edu/AGDM/crops/html/a3-50.html
• A naturally occurring, oily, flammable liquid composed principally of hydrocarbons. Crude oil is occasionally found in springs or pools but ...
  www.pplweb.com/glossary.htm
• unrefined petroleum in its natural form when taken from the ground. Crude oil is the basis for gasoline, engine oil, diesel oil, kerosene and ...
  www.msnucleus.org/membership/html/jh/earth/dictionary/earth/definitions.htm
• is liquid fossil fuel. It is yellow to black in colour and occurs in openings found in sedimentary rock, alongside its gaseous by-product natural gas.
  www.ec.gc.ca/soer-ree/English/Indicators/Issues/Energy/Tech_Sup/ecsup5_e.cfm
• Oil produced from a reservoir before it has been refined, after any associated gas has been removed.
  www.blueenergy.com.au/content.asp
• Oil in its natural state of composition. "Crude" is classified according to its physical properties: a. Paraffin Based, b. Asphaltic Based, c. Mixed Based.
  eei-inc.com/pages/investors/glossary.html
• petroleum In the United States, crude oil is measured in barrels of 42 gallons each; the weight per barrel of API 30° light oil would be about 306 pounds. In many other countries, crude oil is measured in metric tons. ...
  www.britannica.com/EBchecked/topic/54010/barrel
• Is the raw, unprocessed, liquid form that comes out of the ground. It is also known as petroleum. Crude oil is a fossil fuel, meaning that it was made naturally from decaying plants and animals living millions of years ago Crude oils vary in color, from clear to tar-black, and in viscosity, from ...
  more-per-gallon.com/Glossary.html
• Unrefined petroleum, ie, oil as it comes from the well.
  www.essentialenergy.ca/investors/glossary.php
• The oil produced from a reservoir, after associated gas is removed in separation. A fossil fuel formed by plant and animal matter several million years ago. Crude oil consists of organic compounds based on hydrogen and carbon atoms, and therefore called hydrocarbons. ...
  www.paresources.se/en/Operations/Glossary/
• petroleum: a dark oil consisting mainly of hydrocarbons
  wordnet.princeton.edu/perl/webwn
• Petroleum (Latin Petroleum f. Latin petra f. Greek πέτρα - rock + Latin oleum f. Greek έλαιον - oil was first used in 1556 in a treatise published by the German mineralogist Georg Bauer, known as Georgius Agricola. ...
  en.wikipedia.org/wiki/Crude Oil

Summary of Crude Oil Definition.

Crude oil is the term for "unprocessed" oil, the stuff that comes out of the ground. It is also known as petroleum. Crude oil is a fossil fuel, meaning that it was made naturally from decaying plants and animals living in ancient seas millions of years ago -- most places you can find crude oil were once sea beds. Crude oils vary in color, from clear to tar-black, and in viscosity, from water to almost solid.

Crude oils are such a useful starting point for so many different substances because they contain hydrocarbons. Hydrocarbons are molecules that contain hydrogen and carbon and come in various lengths and structures, from straight chains to branching chains to rings. -Read More-