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Crude oil price
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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.

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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.

Jersey Oil and Gas Share Price Forecast: Ascending Triangle Forms

Shares
·May 09, 2022, 10:25 GMT+0100·

Brent Crude Oil Price Prediction As EU Embargo on Russian Oil Looms

Commodities
·May 04, 2022, 12:58 GMT+0100·

Brent Crude Oil Price Prediction: Geopolitics and China Dictate Prices

Commodities
·Apr 29, 2022, 09:49 GMT+0100·

Brent Crude Oil Price Predictions Look Bearish On Cooler China Demand

Commodities
·Apr 22, 2022, 07:29 GMT+0100·

Brent Crude Oil Price Prediction: $100 Support is Key to the Uptrend

Commodities
·Apr 13, 2022, 07:21 GMT+0100·

Brent Crude Oil Price Prediction: Buy The Dip – Goldman Sachs

Commodities
·Apr 06, 2022, 10:00 GMT+0100·

Brent Crude Oil Price Predictions Unchanged as US Inventories Fall

Commodities
·Mar 30, 2022, 19:19 GMT+0100·

Crude Oil Prices Could Breach $120 On New Supply Constraints

Commodities
·Mar 24, 2022, 05:27 GMT+0100·

Brent Crude Oil Price Prediction: Retest of $86 Can’t Be Ruled Out

Commodities
·Mar 15, 2022, 11:37 GMT+0100·

Crude Oil Price Could Rise Above $120 As Russia’s Output Suffers

Commodities
·Mar 04, 2022, 18:16 GMT+0100·

Crude Oil Price Prediction with OPEC+ Meeting in the Horizon

Commodities
·Jan 28, 2022, 10:34 GMT+0100·

Crude Oil Prices Softer As Russia-Ukraine Tensions Mount

Commodities
·Jan 24, 2022, 15:27 GMT+0100·
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