Crude oil prices returned to winning ways on Monday, with the Brent benchmark inching 1.46% higher to $84.84. The rise...
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.
Crude oil hits 7-year highs as demand far outstrips supply Colder, early-onset winter, global economic recovery and gas-to-oil switch pushing...
The crude oil price is paring back some of the losses it endured on Monday as investors remained optimistic that...
Crude oil price has extended its rally, hitting new multi-year peaks at $85.98 on the Brent crude benchmark. The rally...
The crude oil price remarkable rally gained steam on Tuesday as investors waited for the latest monthly report by the...
This Monday, the Royal Dutch Shell share price has inched further upwards, buoyed by rising crude oil prices. The Royal...
Crude oil price on the Brent benchmark continued its ascent to new multi-year highs, as an energy crisis engineered by...
The BP share price has performed well this year. However, surging energy prices signal the supermajor has more upside ahead....
The crude oil price is in a tight range as investors reflect on the supply and demand dynamics. Brent, the...
Crude oil price remains below the crucial level of $80 ahead of the OPEC+ meeting scheduled for Monday. According to...