Oil is a highly volatile, yet exciting commodity to trade. The opportunities are great but so are the risks. With binary options/digital options, you can take advantage of the high returns oil trading can bring and control your risk levels at the same time. Oil was the first form of energy to be widely traded on regulated commodities exchanges, where it is bought and sold in standardized contracts. It is also one of the most popular commodities for binary options trading via digital options platforms. With a simple online binary options account, you can call or put binary options on the price of a barrel of Light Crude Oil on the NYMEX future exchange.