List of Brokers for Oil Trading
Energy commodities are considered to be very important parts of any industrialized economy. As a result, the prices of these commodities also tend to follow economic growth in the world. One of those kinds is oil, energy commodity which commonly used for heating, transportation, cooking, and so on. The market for oil is by far the biggest.
This page will give you a list of Forex Brokers that offer oil as its trading instrument.
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How does the global economy impact oil prices?
During economic upturns with increased industrial production, the demand for oil rises, causing prices to increase. Conversely, during global recessions when industrial activity decreases, oil demand declines, leading to price decreases.
Continue Reading at Why Are WTI and Brent Prices Different?
How does oil price correlate to the currency market?
- The global crude oil price is pegged in US Dollars, so fluctuations in the value of the US Dollar will directly affect the global oil price.
- The forex pair that is most correlated with world crude oil prices is USD/CAD. If the price of crude oil rises, the CAD will rise and vice versa.
Continue Reading at All You Need to Know About Intermarket Analysis
How does shale fracking affect the oil market?
Massive US oil and gas shale fracking is changing the world oil market. According to data from the US Energy Information Administration, oil production from countries outside the Organization of the Petroleum Exporting Countries (OPEC) has grown from year to year and now represents around 60% of world oil production (2014). It means that the power possessed by the twelve states' cartel OPEC to determine world oil prices has dropped significantly, as well as their respective countries' bargaining power in world politics and economy.
Continue Reading at How World Oil Prices Affect Forex, Before And After US Shale Fracking
What is the effect of Russia-Ukraine war in the market?
The Russia-Ukraine war had several effects, including a significant spike in crude oil prices and supply uncertainties in various locations. In early March, crude oil prices reached a 13-year high, hitting $125 per barrel.
Continue Reading at What Can We Learn from Market Trends in 2022?
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