Crude oil finished lower for one more day down to 51.73 losing $1.23 (-2.30%) a level that we haven’t seen...
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.
Crude oil trades close to daily high at 54 adding over two dollars as the sharp selloff which started in...
Crude oil trades lower today giving up about one dollar to 53,57 as the price retreats for recent high. The...
Crude oil continues lower today for third day in a row, giving up over two dollars to 51,07 The selloff...
Crude oil breaks higher today adding more than $2 to $54.10 in the best day for crude oil since January....
Crude oil continues the trip north adding more than $2 to $57.10 as the dollar denominated assets buying frenzy continues....
Crude oil continues the trip north adding more than 0.60 percent to $57.52 as the dollar denominated assets buying frenzy...
Crude oil continues the trip north adding more than 1.24 percent to $59.52 after the Energy Information Administration in its...
Crude oil bulls remain in control, as there are no signs of the US-Iran tensions deescalating. In the very short-term,...
The Baker Hughes oil rigs in the USA rise for second straight week to 793 from 789 the previous week,...