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.

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 Price Chart


Crude Oil Price News

Q3, 2020 Global Market Outlook – EURUSD, Gold, Crude Oil, Bitcoin, S&P 500

The second quarter offered some great trading opportunities across all asset classes. As we head into the new quarter, I think market volatility will decline, yet I still think it will be a great quarter to trade.

My rationale is that traders in stocks and FX, overreacted on the way down, and now look to overact on the way up. The best example of this is EURUSD and AUDUSD, where we saw massive losses followed by almost complete retracements.

In stock markets, the Nasdaq 100 managed the same feat, while both the Dow Jones and S&P500 still has room to go. I think the same is true for crude oil prices.

To know more about what our analysts think, keep on reading.

Topics covered:

  • EURUSD Gains as Europe Eases Lockdowns, Price to Turn Lower in June
  • GBPUSD Could Reach its Zenith When the UK Economy Reopens
  • USDJPY will Fluctuate Violently in Q3 as Japan’s Economy Worsens Under the Coronavirus Pandemic
  • AUDUSD: Covid-19 Engulfs the Australian Economy
  • NZDUSD: Negative Interest Rates Dominate the Financial Landscape
  • Stocks battle back from Covid-19 crash ... but for how long?
  • Covid-19 and geopolitical factors continue to impact the price of gold
  • Crude oil prices stage a volatile recovery
  • Cryptocurrencies first big test

Continue reading with a free membership account. It takes seconds to create.

[nextend_social_login style="icon"] Register


US dollar index

Week Ahead: Will the NFP data surprise us again?

This week, the value of global stocks decreased as investors showed concern about the increasing number of COVID-19 cases in the US. While most of the states have recorded this trend, the most affected areas are Texas, California, and Arizona. Indeed, the situation is so critical that Apple has announced [...]
CRUDE OIL PRICE

Brent Crude Oil Price Rally Runs Out Of Steam

Brent crude oil price slide on Friday as the fear of a second coronavirus wave rises after the U.S. reported yesterday record number of new infections. Investors worry that a second wave might halt the reopening procure or even some states return to a new lockdown. Brent crude oil price...

Continue reading with a free membership account. It takes seconds to create.

[nextend_social_login style="icon"] Register


Crude Oil prices

Crude oil price forms hanging man candle as demand concerns emerge

Crude oil is down for a second straight day as investors remain cautious about the rising number of coronavirus cases in the United States and elsewhere. Investors are also concerned about the rising inventory numbers from the United States. The price of Brent and West Texas Intermediate (WTI) is at $39.96 and $37.7, respectively.

Continue reading with a free membership account. It takes seconds to create.

[nextend_social_login style="icon"] Register


Crude oil price

Brent Crude Oil Price At Three And A Half Month Highs

Brent crude oil price trades higher for the eighth consecutive trading session making fresh three and a half month highs ahead of the American Petroleum Institute’s weekly inventory report which will be reported later on the day.

Continue reading with a free membership account. It takes seconds to create.

[nextend_social_login style="icon"] Register


Crude Oil Price

Here’s why crude oil price is ripe for a breakout today

Crude oil price wavered today as concerns about demand outweighed signs of tighter supplies from key producers. Brent crude fell by 0.25% while West Texas Intermediate (WTI) declined by about 0.45%. The two benchmarks rose by 9% last week.

Continue reading with a free membership account. It takes seconds to create.

[nextend_social_login style="icon"] Register