How can I play crude oil aside from DUG and OIL in the market?

Question

I'm looking for other options to play crude other than those two ETFs listed. 10 points to a great answer!

Answer 1

Well, what exactly might you be looking for? OIL is a 100% pure play.  If you like a speculative play there are plenty of small oil exploration companies that might hit it big.  I don't have a lot of knowledge in that area, but a few currently profitable companies are SM which has been profitable the last 8 years, WLL another profitable smaller oil company.  There are not a lot of smaller profitable exploration companies.  There are a lot of unprofitable ones though.

Answer 2

USO is an ETF to use. But why not just speculate with futures or options on futures. There are numerous companies online that allow you to do that. I guess it comes down to whether you want leverage or not.