The Crack Spread Skew strategy utilizes well-known RBOB Crack Spreads, but modified and tuned up, so it allows trading solely Oil.

What is a Crack Spread?
In the petroleum industry, refinery executives are most concerned about hedging the difference between their input costs and output prices. Refiners’ profits are tied directly to the spread, or difference, between the price of crude oil and the prices of refined products — petrol and distillates (diesel and jet fuel).
This spread is referred to as a crack spread. It is referenced as a crack spread due to the refining process that “cracks” crude oil into its major refined products.
Learn more about Crack Spreads on the CME website or google it.

Broker suggestion
The disadvantage of trading Oil, and commodities in general, thought the CFD is a big spread. So, copy this strategy with brokerage, having Oil spread as low as possible. This account is traded with Eightcap with 3 pips spread on oil. This was also tested on FxPig and FxFlat accounts, with a spread of 5 pips on oil. It worked as well, but the profit is slightly lower.

Trading
The account is traded manually, trades are monitored real-time. All orders contain TP and SL, but trades close can differ from TP. It depends on market condition. In rush hours (RTH), with a lot of liquidity and volatility available on the market, the TP can be wider, whilst in low volatility (ETH) the profit is taken much closer to entry price.
Chase value, not price