Crude oil prices are showing good price recovery and are surging for the 5th session in six. Crude oil price...
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 price rose for the fourth-straight day as the market continued to price-in a recovery of the world economy....
WTI crude oil price CFDs has steadily climbed from $3.42 to $16.00 in a matter of 9 trading days. What is next for the commodity?
Crude oil prices continue their recovery today, even as the OPEC + production cuts are expected to kick in within 24 hours.
The USD/CAD pair declined in overnight trading as the market reacted to positive crude oil-related news. The Canadian dollar also gained in reaction to the relatively dovish interest rates decision by the Federal Reserve.
WTI crude oil price traded higher in yesterday’s trading after the US crude oil inventories showed a lesser-than-expected build. As...
Crude oil price action is on the upside today, boosted by a lower than expected addition to the US crude oil inventories, Sign up to read about what crude oil may do in the coming days.
Brent crude oil price trades higher today after yesterday’s sharp losses amid increased volatility. The crude oil price slumped this...
Crude oil price continued to tumble on overnight trading as concerns about oversupply and low demand continued. WTI futures for June delivery dropped to as low as $10.62 barrels while Brent fell to about $21 per barrel.
Crude oil price on the West Texas Intermediate benchmark has fallen 25% today. Get an insight into why crude oil prices keep falling and the trade opportunities presented by the latest price moves.