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Oil trading on Forex

Nowadays, crude oil is one of the most popular commodities. Oil futures and CFDs are traded on almost every mercantile exchange.
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Oil trading chart

37.48 USD
29 Oct 2020 09:01
Price Change (% chg)
Prev Close
Prev Close

Closing price, the previous day.

Opening price.
Day's High
Day's High

The highest price over the last trading day.
Day's Low
Day's Low

The lowest price over the last trading day
52-wk High
52-wk High

Price range high in the last 52 weeks
52-wk Low
52-wk Low

Price range low in the last 52 weeks

What factors influence oil prices?

The dynamic of oil prices depends on several factors such as:

  • Macroeconomics. The key factor here is the supply/demand ratio. Oil prices usually rise when the supply is low and the demand is high, and vise versa: crude oil is cheaper when high supply overrides low demand.
  • Geopolitics. The major participants of the oil market are the companies, states and organizations extracting this commodity. One of the most famous is the Organization of Petroleum Exporting Countries, OPEC. The developments in relations between this cartel’s members and non-OPEC states always have a significant impact on oil prices.
  • Trading sentiment. As already mentioned, crude oil futures are quite popular. This asset attracts interest of many market players such as banks, financial institutions, brokerage firms, individual investors, day traders, and others. Therefore, the sentiment prevailing among these players often shapes the oil prices trend.

Instaforex News

*News Of The Day: Yen Strengthens On Virus Worries .*  Other News: 1. Yen Declines As BoJ Holds Monetary Policy Steady; Cuts Growth, Inflation Forecasts  2. BoJ Keeps Monetary Policy Unchanged; Cuts 2020 GDP Forecast  3. Dutch Producer Confidence Falls In October  4. Japan Consumer Confidence Highest In 8 Months  5. *Singapore Sep Producer Prices -9.7% On Year Vs. -9.9% In August  6. *Singapore Sep Producer Prices +0.2% On Month Vs. -1.9% In August  7. *South Africa Sep Private Sector Credit +3.12% On Year Vs. +3.87% In Aug, Consensus +4.0%  8. *South Africa Sep M3 Money Supply +9.48% On Year Vs. +10.87% In Aug, Consensus 10.5%  9. *Dutch Oct Producer Confidence -5.6 Vs. -4.8 In September  10. UK Car Production For September Lowest In 25 Years: SMMT  
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