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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

#cl
39.44 USD
27 Oct 2020 22:12
Price Change (% chg)
$0.01
(0.03%)
Prev Close
Prev Close

Closing price, the previous day.
$38.59
Open
Open

Opening price.
$38.96
Day's High
Day's High

The highest price over the last trading day.
$39.82
Day's Low
Day's Low

The lowest price over the last trading day
$38.5
52-wk High
52-wk High

Price range high in the last 52 weeks
$65.63
52-wk Low
52-wk Low

Price range low in the last 52 weeks
$0.01

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: Dollar Rises Against Peers .*  Other News: 1. Crude Oil Futures Settle Notably Higher  2. Treasuries Extend Move To The Upside Seen In Previous Session  3. Gold Futures Settle Higher On Safe-haven Demand  4. Two-Year Note Auction Attracts Modestly Above Average Demand  5. Dollar Down On U.S. Election Uncertainty  6. U.S. Consumer Confidence Index Unexpectedly Edges Lower In October  7. *U.S. Consumer Confidence Index Dips To 100.9 In October  8. U.S. Durable Goods Orders Jump Much More Than Expected In September  9. Dollar Little Changed After U.S. Housing Data  10. *S&P CoreLogic Case-Shiller 20-City Home Price Index Up 5.2% YoY In August  
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