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InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

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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

On the forex market, oil CFDs are traded the same way as currency pairs, yet with a different leverage and margin level. One contract for delivery of a particular oil type corresponds to the price of 100 barrels of oil in the US dollars. On Forex such contracts are called contracts for difference and are classified as OTC financial instruments. They have an expiry date and all losses and gains are paid in cash.
On Forex, market participants can trade the following types of crude oil:

  • heavy crude oil;
  • light crude oil.

Moreover, sulfur level and oil density are also taken into account.

Oil futures

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.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 56.05% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.