Oil has been perfomring well in 2022, owing to increased tensions in Ukraine, economic sanctions placed on Russia, and broader supply chain issues. As such, you might be looking to add some oil stocks to your investment portfolio today.

In this guide, we explain how to buy oil stocks in 2024.

How to Buy Oil Stocks

If you’re simply looking for a overview of how to buy oil stocks today – follow the step-by-step below:

  • ✅Step 1 – Open a Trading Account:  Users can head over to the website of their preferred broker and begin the registration process. Enter your personal details and create a username and password.
  • Step 2 – Upload ID: Get your newly created account verified instantly by uploading a copy of your ID. Choose from a passport, state ID, or driver’s license.
  • Step 3 – Deposit Funds: Users can deposit funds by choosing a payment method which may include e-wallets, credit/debit cards, and ACH.
  • Step 4 – Buy Oil Stocks: Users can search for their preferred stocks on the search bar of their platform and begin the open order process. Enter the amount you wish to invest and confirm the transaction.

Many brokers in the US give you access to oil stocks. But, the popular platforms in this industry offer low fees and small account minimums-  not to mention a variety of investment tools and features.

Check out our review of the most popular broker that allows you to invest in oil stocks.


webull logoWebull is a well-known online broker that allows US clients to buy thousands of stocks listed on the NASDAQ and NYSE. You can open a Webull account in less than 10 minutes and there is no minimum funding requirement. As such, you can get started with any amount of your choosing.

Webull only requires you to meet a minimum stock purchase of $5 via its fractional ownership tool. This is the case regardless of how much your chosen oil stocks are trading for. When it comes to fees, Webull does not charge any trading commissions when you buy and sell oil stocks. 

webull platform screenshot

This is also the case if you decide to buy oil ETFs. In fact, you can also use the Webull platform to trade oil stock options on a commission-free basis. If you are able to deposit at least $2,000 into your Webull account, you can also elect to buy oil stocks on margin. This should give you access to a 50% margin facility, meaning that you can double your investment stake. 

The main issue with Webull is that it only allows you to gain exposure to foreign oil companies via  American Depositary Receipts (ADRs). Not only does this access your ability to diversify across a large number of oil markets, but you will often need to pay a double taxation rate. Moreover, unless you are happy to deposit via ACH, domestic bank wires cost $8 per transaction. 

Minimum Deposit $0
Fractional Shares? Yes – $5 minimum
Pricing System 0% commission on all oil stocks, ETFs, and options
Cost of Buying Oil Stocks Spread only

Your capital is at risk.

How Much Does it Cost to Buy Oil Stocks?

When you buy and sell oil stocks online you will invariably need to pay a fee to the brokerage you trade through.

The most important fees to look at when assessing the best energy stocks online are summarized below:

Funding Charges

No funding fees are charged to US clients across all supported payment methods. This is also true for making a withdrawal. But, some platforms will charge you both a deposit and withdrawal fee – so check this before proceeding.


Webull enables you to buy oil stocks online without paying any commission. This is the case across many online brokers when it comes to buying oil stocks that are listed in the US.

However, if you want to buy oil stocks that are listed on a foreign exchange, then additional fees will always be charged by the respective broker.


It is also worth exploring how much your chosen broker charges in spreads when you buy and sell oil stocks – which is the gap between the bid and ask price. The narrower the gap, the more competitively priced the broker is.


This guide has reviewed the most popular platform that lets users invest in oil stocks. Users can do research about the available options and choose their preferred broker by comparing their fees, assets, features and more.

Frequently Asked Questions on Buying Oil Stocks 

How do I buy oil stocks?