Oil prices have fallen in mid-morning London session, as concerns over weak demand continue to cloud market outlook. WTI futures...
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.
Oil prices are on the rise in afternoon London session on Monday, propelled by falling dollar strength. Benchmark Brent Crude...
Oil prices fell on Friday during the late morning London session as the market bought into Thursday’s downward forecast by...
Crude oil prices fell further on Thursday, as the market continued to react to rising US oil stockpiles. Brent Crude...
Crude oil prices have defied strong US inflation data to rise, as the market seems to have found new fodder...
Crude oil prices have registered weekly highs in the early London trading session on Tuesday. WTI Futures were trading at...
Crude oil prices edged lower in the early hours of Monday trading, following the cooling down of war rhetoric in...
Oil fell marginally in the early hours of trading in the New York session as the commodity looked to end...
Oil has made marginal gains in the early hours of the London trading session. West Texas Intermediate (WTI) rose +0.11%...
Oil prices have turned green after making a losing start to the week on Monday, under pressure from a strong...