Crude oil trading is one of the major trading business internationally. Major crude oil producers such as Saudi Arabia exports crude oil to many countries. Countries which do not have crude oil production in the country or which do not have sufficient production for their own requirements have to import from other contries. Crude oil trading is very much dependent on the national supply and demand situation.

Crude oil quotes in the world market thus fluctuates day to day. Foreign oil quotes especially reflects the oil stocks available in the markets. Countries which have sufficient supply domestically would see fairly stable quotes on domestic oil. Similarly countries which have surplus oil supply could see stable oil quotes too.

Some countries, from time to time, depending on the fluctuations in the demand may have to import oil based on spot oil quotes. The prices of refined products would accordingly fluctuate based on the latest oil quotes. Gasoline oil quotes and heating oil quotes would fluctuate in line with the quotes on foreign oil and quotes on domestic oil as the case may be. One would even see the fluctuations at the gasoline pump stations on a day to day basis.

The fluctuations can be observed on a day to day basis in the oil future quotes. The latest oil quotes are presented for different grades and types of oil. These are published in the major national daily news papers. There are leading magazines in the oil business which reviews the market trends on a continuing basis.

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