The rise of Brent crude to $51.88 on Thursday further cements the strengthening seen in oil-backed currencies such as the...
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.
OPEC + holds the key to short term crude oil price. Sign up to find out how.
Crude oil price forms a shooting star on the daily chart
BP share price has been in trouble recently. It has dropped by more than 10% since December 10, when it...
As described in our previous BP share price prediction, the price is still moving sideways. On Monday, UK equities had...
BP share price has declined by more than 44% in the past year. It has performed better than Royal Dutch Shell, whose share price has dropped by more than 52%. But it has also underperformed the FTSE 100, which has declined by about 20%. The same trend goes way back. For example, the two energy groups have dropped by more than 30% in the past five years. BP stock price is now trading at 309p, which is above the YTD low of 222p. That is a 40% gain.
The BP share price could hit new 2021 highs as the company has signed an exploration agreement with Russian oil...
BP share price has moved sideways in the past few months as investors focus on the upcoming quarterly and full-year...
BP share price declined by more than 4% after the company shocked the market by announcing a huge write down and impairment. This is in reaction to the significant decline in crude oil price this year. The company’s share price is trading at £309, down from last week’s high of above £360.
The BP share price has surged 2.88% on the day, extending the stock’s bullish run to seven consecutive days. The...