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Crude oil price

Crude oil is the world’s most important energy source, and the price of oil, therefore, plays an important role in the global economy.

In this section, you will find important crude oil news that affects crude oil prices, and oil traders can find ideas on what to expect in the future, and key support and resistance levels. You can also use the live trading chart for Crude oil for trading and analysis.

Crude oil FAQ
How to trade crude oil?
What is crude oil?
What is the price of crude oil?

Do you have a question? Feel free to ask our experts.

Oil is used for transportation, petroleum products, and plastics. The price of crude oil is probably the most-watched price in the commodity markets. Besides its primary role as the most important energy source, crude oil is also an essential raw material for manufacturing plastics. Crude oil is also used in cosmetics and medicines. According to the EIA, crude oil prices affect 96% of transportation. It also impacts 43% of industrial products, 21% of residential and commercial use, and 3% of electric power. As a result, crude prices have an influence on most everyday items and services and can generate inflation.

The price of oil is heavily influenced by supply and demand. The Organisation for Petroleum Exporting Countries (OPEC) sets production quotas for its members, to reduce competition and keep prices at profitable levels. Emerging industrial markets such as China, India, and Brazil greatly influence the price of oil, since they require more and more oil to support their economic growth.

Geopolitics events like war, natural disasters, political upheaval, and new government leaders are all factors influencing crude oil pricing. The US dollar has a major impact on the price of crude oil. If the dollar becomes stronger, the price of oil will tend to drop, assuming that all other factors remain constant.

Commodities
·Jul 05, 2022, 07:09 BST

Brent Crude Oil Price Prediction for July as Double Bottom Forms

The Brent crude oil price has formed a double bottom pattern as investors wait for the upcoming meeting between Joe...
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Commodities
·Jun 28, 2022, 08:21 BST

Brent Crude Oil Price Prediction: Irrational Proposal by G7

Brent crude oil price has staged a strong comeback in the past few days as oil demand keeps rising. It...
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Commodities
·Jun 20, 2022, 12:06 BST

Brent Crude Oil Price Prediction: A Drop to $100 Could Happen

Brent crude oil price predictions continue to remain negative this Monday after a colossal slide in the asset on Friday...
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Commodities
·Jun 14, 2022, 09:20 BST

Brent Crude Oil Price Predictions Remain Bullish on Supply Concerns

Crude oil prices on the Brent crude benchmark are trading higher today as supply concerns continue to fuel bullish Brent...
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Commodities
·Jun 10, 2022, 08:17 BST

Brent Crude Oil Price Forecast: ‘Could Go Parabolic Soon’

The Brent crude oil price has continued its bullish trend as investors focus on the rising global demand. The price...
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Commodities
·Jun 01, 2022, 08:00 BST

Brent Crude Oil Price Forecast for June: Uptrend to $130 Intact

The Brent crude oil price had a strong performance in May as investors watched the unwinding of China’s lockdowns and...
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Commodities
·May 25, 2022, 06:18 BST

Brent Crude Oil Price Prediction: Ready for a Major Move

The Brent crude oil price is trading at an important resistance level as investors focus on the happenings in China....
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Shares
·May 20, 2022, 20:48 BST

Rising Gasoline Demand Keeps BP Share Price Up

The BP share price is up this Friday as the stock benefits from rising demand in crude oil prices and...
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Commodities
·May 18, 2022, 19:17 BST

Geopolitics Dictate Brent Crude Oil Price Predictions

Crude oil prices are still trading lower on the day, despite a shortfall in US crude oil stocks this Wednesday....
Read More
Commodities
·May 11, 2022, 09:06 BST

Brent Crude Oil Price Prediction: Stuck at a Crucial Support

Brent crude oil price has fallen to an important support as investors focus on the ongoing lockdown in China and...
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