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West Texas Intermediate Crude Oil Trading
Crude Oil History
Crude oil is a liquid in the Earth, and it is made of hydrocarbons, organic compounds, and tiny amounts of metal. There are many types of crude produced around the world, and the quality of each is reflected in the value. One of its quality characteristics is the sulfur content, which can be defined as sweet or sour, and density ranges from heavy to light. If crudes are light and sweet, there are more expensive as opposed to energy products such as diesel and gasoline. There is a high demand for these grades since they can be processed with refineries requiring less energy.
What are the types of crude oil?
Many types of crude oil differ in their consistency and density, depending on how and where it is extracted. There are over 160 types of crude oil traded on the market, but Brent Crude and WTI serve the most as the oil benchmarks in the global markets. The WTI oil is taken from Wells in the United States and sent to Oklahoma by pipeline. It is mostly referred to as US crude, and it has expensive shipping costs when there is demand around the world. The WTI oil is very sweet and light, making it ideal for gasoline refining. WTI is a higher quality crude than Brent, and it is always priced at a premium.
What affects the price of crude oil?
The Organization of the Petroleum Exporting Countries (OPEC) is a cartel of 14 major oil-producing nations seeking to manage the supply of the commodity to control its prices. When there is a meeting for whether to boost or cut production, it can impact current and future prices directly, and oil watchers globally closely follow the announcements. Another important factor affecting the prices is the major crude reports from the US inventory number as higher inventories will mean less demand from the international markets and will pressure the prices lower. Political factors or wars in oil-producing nations are a major issue in the oil markets, and natural disasters such as hurricanes that affect major oil infrastructures.
Crude Oil News
Oil prices extended losses on the 10th of February 2022 and were heading for a weekly fall as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis. The US West Texas Intermediate (WTI) crude futures shed $2.39 (USD), or 2.6%, to $89.37 (USD) a barrel after sliding 2% on Thursday the 17th.
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Gold v AUS Trading Trading FAQs
What is the difference between crude oil,
petroleum products, and petroleum?
What is the difference between crude oil,
petroleum products, and petroleum?
Crude oil is a mixture of hydrocarbons that exists as a liquid in the earth and remains a liquid when brought to the surface. Petroleum products are produced from the processing crude oil and other liquids at petroleum refineries, from the production of finished petroleum products at blending facilities and from the extraction of liquid hydrocarbons at natural gas processing plants.
Why should I trade crude oil?
Why should I trade crude oil?
The crude oil market is extremely liquid, volatile and it plays a major role in the global economy. The volatility can be translated into profits by discerning traders, which is one of the reasons why you could choose crude oil for your investment. It offers a unique opportunity to gain from nearly any market condition.
What is the best strategy for trading crude oil?
What is the best strategy
for trading crude oil?
Traders can begin with the fundamental analysis of the market to better understand the commodity's underlying supply and demand dynamics. Afterwards, traders will be able to implement a technical analysis framework to allow them to profit from the gyrations in the market.
What are the benefits of commodities trading?
What are the benefits of
commodities trading?
Trading commodities CFDs ("contracts for difference") is a great way to diversify your portfolio and hedge risks. FP Markets has carved a niche for itself in the commodity trading market in Australia, offering the optimal trading experience. Traders can choose from a variety of commodities such as energy metals and agricultural products and enter or exit the market 24/5 across almost all commodities markets.
What is the best platform to trade commodities?
What is the best platform
to trade commodities?
You can discover the benefits of commodities trading on MetaTrader4 (MT4), one of the most powerful trading platforms available. MetaTrader 4 (MT4) is available across desktop and mobile platforms.
Where Can I Find a Trusted Forex Broker to Trade Commodities?
Where Can I Find a Trusted Forex
Broker to Trade Commodities?
With FP Markets , a Global-regulated broker provider, you get access to commodity prices worldwide with high executions speed, deep liquidity, tight spreads and low slippage. You can trade CFDs on a variety of products while benefiting from the latest real-time technology.