Popularly known as "Black Gold", Crude Oil is considered the most important commodity in the world for many reasons. It has a large influence on almost all economies in the world and it is the cause of major political and international conflict. The price of crude oil can change the destiny of entire nations and thus, it is imperative to understand it more detail. In this chapter, you will learn about the various types of crude oil and the factors which affect the price of the commodity and the basics of how to trade it.