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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

Gold Turns Lower as Expected, US Dollar May Have Resumed Uptrend
Gold prices turned lower as expected after hitting three-month trend resistance while the US Dollar looks to have resumed its uptrend after a brief correction.
Crude Responds to Resistance Zone (84 to 86)
Norges Bank Preserves Key Policy Rate: USD and EUR/NOK to Consolidate
USD and EUR/NOK pairs consolidate below shooting star candlestick patterns as Norges Bank holds interest rates steady on balanced indicators.
Crude Plummets To Critical Barrier, Gold Slumps On US CPI Surprise
WTI is pressing against a key technical floor following a dramatic plunge on the back of bearish inventories figures, meanwhile gold awaits guidance from US data.
Crude Oil Recovers Ahead Of Inventories, Gold Awaits Cues From US CPI
The precious metals may be afforded some breathing room with an expected slide in upcoming US inflation data unlikely to bolster hawkish FOMC bets.
Norges Bank to Retain Rate on Balanced Economic Evolutions
Offsetting mid-term economic outlooks will likely leave Norges Bank maintaining the current policy rate. Under the current state USDNOK remains in a bullish trend.
Crude Consolidates Recent Losses
Gold Climbs As USD Dips, Copper Slumps Ahead Of Chinese Q3 GDP
Gold and silver may continue their ascent with thin US data offering the USD bulls few fresh positive cues, while copper braces for upcoming top-tier China data.
COT: Crude Speculative Long Position at 18 Month Low
The net speculative long position in Crude is the smallest since June 2013 (which was a record then!). Still, the long position remains large.
Crude Oil Recovery Loses Steam, Copper Braces For Top-Tier China Data
WTI’s rebound has seemingly lost momentum as lingering supply glut concerns offset positive US data, meanwhile copper faces further volatility on Chinese economic data.