Even though crude oil futures dropped as the year ended, the overall futures price posted about an 8.2% yearly gain, according to data supplied by this report. Crude oil futures had a hefty 25% gain in the fourth quarter of 2011, with February delivery at $98.83 per barrel as of December 30th (price based on NYMEX trading).

Crude oil futures prices were boosted by potential turmoil from Iran, with that country threatening to cause shipping problems from the Middle East. But the article points out the disclosure of the fact that the U.S. has had an unexpected increase in crude oil inventory kept the future price from going as high as it might have otherwise.

PFG Best vice president Phil Flynn was quoted in the article as saying that he believes oil futures prices could drop to $85 a barrel if no conflict from Iran materializes or jump to $127 per barrel if it does happen. He also predicts that the price could free-fall to $55 per barrel if more European economic failures take place or if the European Union looses some members.

No one can say for sure what 2012 will bring in terms of oil futures prices. But one thing is certain; most market analysts predict that oil and commodities are generally expected to do well this year.

Oil futures (light, sweet crude) have inched up .35 cents to $93.88 a barrel for January delivery, according to NASDAQ. Brent crude also made gains of .29 cents to settle at $103.64 a barrel for February delivery, according to the Dow Jones.

The gains were largely attributed to investors being optimistic that the European debt crisis will be resolved. pointed to the news that 150 billion euros will be loaned to the International Monetary Fund by the euro-zone ministers in an effort to bolster the recovery process.

If the European debt crisis isn’t resolved, most investors fear that demand for oil will slow down considerably. Oil Futures are still trading just in the low to middle $90s though. The Christmas and New Year’s holidays will also temporarily slow markets. Demand for heating oil hasn’t been significantly impacted either, with no recent harsh winter weather to boost demand.

Two other international factors that oil futures investors are watching are Iran’s production levels and the political stability of North Korea since Kim Jong Il death. The impending assumption of power by his son (Kim Jong Eun) could also impact prices if North Korea experiences either internal conflict or decides to flex military muscle in the region.

Despite recent slower gains, oil futures continue to be favorable with investors.

In our last post we told you about a few reliable websites where you can access updated pricing information for oil futures as well as other commodities. There are also some mobile phone and BlackBerry apps that you can download to have current oil futures pricing data at your fingertips, no matter where you are.

According to this list of best iPhone and BlackBerry stock trading applications, Bloomberg has a great program that lets you access price charts, market prices, stock quotes and trends. You can also customize it.

The app DailyFinance provides charts to track oil trading trends and other stock futures and prices, news and much more.

The iStockManager is for both BlackBerry users and iPhone users. You can get streaming prices and tickers, charts and information is constantly updated.

With ETradeMobilePro you can actually execute oil trading deals from your phone. It also features all the same charts, updated prices and perks as the above applications.

And with iSwim for you BlackBerry you can also lock in real-time oil trades, get stock quotes, price charts and everything you need to know about the market.

Cell phones, BlackBerrys and the other gadgets we love are making it easy to keep on top of prices, market trends and futures. You can stay connected to your portfolio and manage your investments from anywhere. So take a closer look at some of these mobile apps and see if they can help you become a better oil trader.

When you invest in oil futures, it’s vital that you keep track of market prices and spot any trading trends that might be developing. Having reliable, up to date information is a necessity for both beginning and experienced traders. Prices can dip and surge at any hour of the day, and your decision to buy hinges on that information. There are several Internet sites that keep updated price information available, and with all of the mobile technology available, it makes it possible for traders to check in anytime, anywhere.

If you’re looking for good websites to check oil futures prices, there are several out there. You’ll have to experiment a little and see which sites provide you with the pricing information you want. Some only give daily prices while others give access to past trading information and prices. You can find updated pricing information on Bloomberg or you can check NYMEX prices at this site.

You can also access current oil prices and futures at CME Group. They are the result of the Chicago Board of Trade and Chicago Mercantile Exchange merging in 2007. There you can find information about Dow Jones prices (which they own), NYMEX data and pricing for Brent Cruse oil.

No matter which source of online oil futures information you decide to use, just make sure the price quotes and data are correct. Compare a few sites and make sure the numbers match up. Once you’ve looked at a few you’ll be able to tell which ones are the best sources of data for your oil trading strategies.

When you think of investing in oil you probably automatically think of buying stock in oil companies or exchange funds. But investing in companies that provide equipment to oil drilling companies is another option. Investing in oil drilling equipment provider companies may not net you big, quick profits like investing in spot oil prices could, but it also doesn’t carry as much risk either. And with so many drilling companies expanding their deep water drilling operations and also exploring new drilling methods, the demand for equipment is rapidly increasing.

Global demand for oil is constantly increasing. According to this article in Money Magazine, even though huge amounts of money are being invested in crude oil production, there really hasn’t been a big increase in output. This is because most new production sources are located in areas that cost more to drill in, such as deepwater sites and horizontal drilling (oil shales). Demand is increasing for specialized equipment for these types of oil rigs, and companies that can provide that equipment are going to profit from that demand.

The increase in global consumption of oil will push oil companies into more exploration and different methods of production. That can be expensive. In fact, a recent report in the Wall Street Transcript states that even though the top five oil companies have almost doubled their spending over the past seven years, their production has decreased by up to 10%. That is because it costs significantly more to drill in deepwater or extract oil from shales and sand. These companies have to have specialized equipment to do this and are obviously willing to pay for it.

Some of the bigger names in the field of oil drilling equipment and services are Halliburton and National Oilwell Varco. There are other companies as well, and anyone considering investing in oil drilling equipment companies should thoroughly research them before buying stock. Companies that produce specialized equipment for newer drilling methods could potentially be a better long-term investment if those methods prove successful.

There are many ways to invest in oil, and while many investors favor traditional oil trading, investing in oil drilling equipment companies can be a good opportunity for future growth. It can be risky like any oil investment, but it can also pay off in the long run.