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USOIL

WTI Crude Oil

Bid63.663
Ask63.693
Change0.016
% Chg+ 0.03%
High63.728
Low63.618

Past performance is not an indication of future results.

About

Crude oil, non-renewable scarce resources, is one of the most important commodities, belonging to international strategic reserve materials.

Factors Affecting USOIL Prices

1. Crude oil production. OPEC + production increase will suppress oil prices, while production cuts will boost oil prices. 2. Global economic conditions and industrial demand. With economic growth and large demand for crude oil, oil prices will rise. 3. Geopolitical factors. Crude oil has the attributes of strategic materials. Therefore, geopolitical conflicts, especially the political situation of oil-producing countries have a great influence on oil prices. 4. Emergencies and climate. Some countries use crude oil as heating fuel. When the climate becomes colder, it will drive the price changes of crude oil and derivatives in the short term.

Historical market review

In 2020, the novel coronavirus epidemic broke out globally, and the global economy shrank. The price of U.S. crude oil futures fell from a maximum of $ 60, and the lowest broke through a negative value, setting a record low.

Economic Data Affecting Crude Oil Prices (by importance)

1. EIA inventory changes 2. OPEC Production Reduction / Increase Agreement

Trading Specifications
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News
U.K. shares higher at close of trade; United Kingdom 100 up 1.04%
Netherlands shares higher at close of trade; AEX up 0.76%
Italy shares lower at close of trade; Italy 40 down 0.29%
Germany shares lower at close of trade; DAX down 0.60%
France shares lower at close of trade; CAC 40 down 0.08%
Spain shares lower at close of trade; IBEX 35 down 0.06%
Sweden shares lower at close of trade; OMX Stockholm 30 down 0.17%
Finland shares higher at close of trade; OMX Helsinki 25 up 0.08%
Indonesia shares higher at close of trade; Jakarta Stock Exchange Composite up 1.00%
Oil prices rise on US crude inventory drop; potential Russia-Ukraine talks eyed
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