In today’s commodity markets, understanding "how do oil futures work" is key for traders. WTI crude futures for July traded near $79.40, slightly down 0.3%, following EIA’s report showing U.S. stockpiles rose by 3.6 million barrels. This suggests possible short-term downward pressure, but analysts see bullish potential if OPEC+ maintains output cuts. "Easing US oil field regulations, the availability of federal lands and the ‘drill baby drill’ mantra from the President do not appear to be bringing a change of strategy to this part of the oil industry ," wrote Guinness Global Investors analysts Jonathan Waghorn and Will Riley in a September strategy note. Hedge your financial risk in the global biofuels (including waste-based products) and ethanol markets with a wide range of futures and options contracts at CME Group. The mechanics of "how do oil futures work" include margin requirements and contract expirations, which directly impact short-term trading sentiment. This week’s backwardation in WTI indicates current supply shortages outweigh future delivery expectations.