Today, oil is the world’s most traded raw material. Oil deals are performed almost on all trading floors. Operations with CFDs on oil and its products are executed on all commodity exchanges, including the largest ones in New York, London, and Singapore.
What factors determine oil prices?
Oil price depends on a lot of geopolitical factors and reflects market participants’ sentiment. Countries, big companies, and traders can all be considered the players in the oil market.
For example: airline companies trade oil to hedge their risks for fuel price growth, whereas traders perform deals in order to make money from market fluctuations.
Oil prices are conditioned by the same factors as the exchange rates of currencies, i.e. political developments, financial events, and even weather.
Oil CFDs
Apart from CFDs, market participants also trade oil futures. Our company offers two types of contracts:
Brent Crude (light low-sulfur crude oil extracted from the North Sea);
WTI (lighter low-sulfur crude oil extracted in West Texas).
For your information, the #XBZ symbol stands for Brent futures contract. The #CL symbol stands for WTI futures contract. Moreover, it is possible to trade mini contracts of a standard futures under the ticker symbol of #CL — miNY Crude Oil (#QM).
Follow the latest World Economy news and always keep yourself up-to-date with the oil market developments.
No comments:
Post a Comment