Brent crude oil price remained in a consolidation mood on Monday morning even as the US dollar index plunged. It...
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.
Brent crude oil price started the year on a positive note amid rising optimism of elevated demand. It rose to...
Crude oil price has staged a slow recovery as investors reflect on the upcoming supply and demand dynamics. Brent rose...
Brent crude oil price continued falling as the market reflected on this week’s cap of Russian oil. It plunged to...
Occidental Petroleum share price has done well this year as oil and gas prices remain at an elevated level. OXY...
Brent crude oil price has remained in a tight range in the past few weeks as investors watch the ongoing...
Brent crude oil price has held steady in the past few days as demand rebounds. It rose to a high...
Brent crude oil price remained in a consolidation phase on Monday as the market reflected on the latest China GDP...
Late last month saw Helium One share price start a rally from September 22 to 28, which resulted in the...
Brent crude oil price predictions of a recovery in price got a boost this Wednesday after the latest report by...