Crude oil price came under fresh pressure in the New York session, despite crude oil inventories showing a steeper-than-expected decline...
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.
The Tullow Oil share price has been under intense pressure in the past few weeks even as oil prices remains...
Crude oil prices fell on Monday amid growing concern that the delta variant of the coronavirus is starting to affect...
Crude oil price was a tad lower on Friday after warnings from the International Energy Agency (IEA) that demand for...
Crude oil price is trading off intraday lows after the Energy Information Administration reported a fall in crude oil inventories...
Crude oil prices fell by more than 3% on Monday after China applied more restrictions due to the spread of...
Crude oil prices are set for a weekly loss, as rising coronavirus delta variant cases and China’s unexpectedly underwhelming manufacturing...
Crude oil price on the Brent benchmark fell steeply on Monday after China’s slump in manufacturing activity sparked concerns over...
Crude oil price has entered the new month steady above the crucial resistance-turn-support level of $70. Notably, this has been...
Crude oil price on the Brent benchmark was little changed this Wednesday, following the release of crude oil inventories report...