Crude oil is a naturally occurring, non-renewable resource that's a fundamental component of the global economy. It's a raw material, often referred to as "black gold," that's refined into various petroleum products, including gasoline, jet fuel, and diesel. Understanding crude oil involves grasping its formation, extraction, refining, global trading, and the factors influencing its price.

The structure of the natural gas market has evolved over time and become one of the most competitive, efficient, transparent, and liquid natural gas futures and options market in the world. Explore the basics of natural gas infrastructure, key impacts like seasonality that affect supply and demand, as well as hedging physical product using futures and options products.