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Crude Oil

Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure. Crude oil is one of the most demanded commodities and prices have significantly increased in recent times. Two major benchmarks for pricing crude oil are the United States’ WTI (West Texas Intermediate) and United Kingdom’s Brent. The differences between WTI and Brent include not only price but oil type as well, with WTI producing crude oil with a different density and sulfur content. The demand for crude oil is dependent on global economic conditions as well as market speculation. Crude oil prices are commonly measured in USD. Although there have been discussions of replacing the USD with another trade currency for crude oil, no definitive actions have been taken.

Crude Oil Price Chart (Brent)

Crude Oil Price Chart (WTI)

Crude Oil News & Analysis

Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low
The precious metals remain in a precarious position as broad-based US Dollar strength threatens to weigh on the alternative assets.
Norges Bank Buys Krone, Weakening the EUR/NOK Currency Pair
Deviating from their current purchase trend, Norges Bank will sell foreign exchange and buy Krone—moving the EUR/NOK exchange rate down in the short run.
Crude Drop Could Capitulate Near 85
Gold Inches Higher As USD Seeks New Fuel From Consumer Confidence Data
The precious metals are cautiously advancing in Asian trading today, yet their recovery may be at risk if upcoming US data recharges the USD’s batteries.
US Dollar Aims to Extend Advance, Gold and Crude Oil Range-Bound
The US Dollar is aiming to extend gains after hitting a four-year high while gold and crude oil prices are trading water in familiar trading ranges.
Gold Regains Footing Before US Data, Yet Is There Room For A Recovery?
Gold has found bids ahead of revised US GDP data, yet the scope for a recovery may be limited in the absence of a dip from its pricing currency, the US Dollar.
Crude Sell Bounces Below 95.16
RUB Weakens as Sanctions Disrupt Trade
Sanctions imposed against Russia have impeded trade flows. As a result key industries have faced financial challenges and the USD/RUB has remained bullish.
Precious Metals Exposed As USD Regains Drive Before Durable Goods Data
Gold and silver remain vulnerable to renewed greenback momentum with upcoming US data unlikely to shake firmer Fed policy bets.
Crude Oil Hits 26-Month Low, US Dollar at Risk of a Reversal
Crude oil prices dropped past key support to tag a 26-month low, with further weakness seen ahead. The US Dollar remains vulnerable to a corrective pullback.