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Oil trading

Here, you will find all information necessary for oil trading with InstaForex

Oil trading chart

#cl
78.08 USD
22 May 2024 17:46
Price Change (% chg)
$0.01
(0.01%)
Prev Close
Prev Close

Closing price, the previous day.
$79.11
Open
Open

Opening price.
$79.67
Day's High
Day's High

The highest price over the last trading day.
$79.11
Day's Low
Day's Low

The lowest price over the last trading day
$77.35
52-wk High
52-wk High

Price range high in the last 52 weeks
$95.02
52-wk Low
52-wk Low

Price range low in the last 52 weeks
$66.8

What does the oil price depend on?

You can trade crude oil with InstaForex in the form of CFDs on futures. This means that a lot will not have a fixed volume in barrels, gallons, or liters of the crude. Instead, there will be a fixed margin available in the specification. Beside the price for futures, the specification has three parameters that are important for every trader: the margin, the value and the tick size. Let us have a look at an example.

Let us say you decided to buy #CL (a CFD on crude oil). You can see that the margin is 2,000, i.e. you will commit 2,000 for each open lot. In other words, if your balance is USD 3,000, after a lot is opened, you will only have USD 1,000 of free margin.

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