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.
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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.
One of the most common ways for traders and investors to obtain exposure to crude oil without physically handling barrels…
Oil slipped to $66 this week after whispers of OPEC+ supply hikes rattled traders, only to bounce back when the…
Oil prices have risen marginally recently, mostly because of concerns about restricted supply, geopolitical tensions, and a drop in U.S. crude…
Crude Oil prices pushed higher for a second day on Wednesday, supported by fresh concerns over supply disruptions. Brent settled…
Brent Crude oil prices on Thursday extended a decline of 1.02% to $66.91. It closed yesterday $67.155 and opens today…
Brent crude oil price hovered near $66.48 a barrel on Tuesday, trading flat after US President Donald Trump extended the…
Crude oil price declined for the fourth straight session on Tuesday, with investors taming their appetite on the heels of…
Suzlon Energy share price extended its losses on Monday, slipping 0.8% to close at ₹62.67. The pressure came ahead of…
Crude oil markets unraveled late Monday night after Iran fired a barrage of missiles at a U.S. air base in…
Oil prices returned to the upside on Thursday in reaction to an escalation in the war between Israel and Iran.…
On Thursday morning, the Brent crude oil prices rose above $77 per barrel, reaching an over four-month high, in response…
During the European session, the Brent crude oil exchange rate was relatively bullish, opening up from the $63.76 price on…