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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

CBR Drastically Raises Key Rate to 9.5%: USDRUB Respects Resistance
CBR elevates their key interest rate by 150 bps in an effort to restore macroeconomic stability. The USDRUB responds closing the week under resistance at 43.00.
Crude Weak Bounces Portend Lower Levels
Gold Remains Exposed On US GDP, Natural Gas Faces Further Volatility
Gold remains at risk of further declines ahead of US growth figures which may feed firmer Fed policy normalization bets and bolster the USD.
USD/RUB No Sign of Slowing Despite Improved Business Climate
In spite of improved business conditions, as assessed by the World Bank, reactions to external shocks remain behind the continued USDRUB advancement.
Gold Down Move Stalls, SPX 500 Hits Monthly High Before FOMC
Gold prices lost downward momentum after clearing chart support and the SPX 500 rose to a monthly high ahead of the much-anticipated FOMC policy announcement.
Gold At Risk On Hawkish FOMC Tilt, Crude Rebounds Ahead Of Inventories
Gold and silver are bracing for volatility on the upcoming FOMC decision that holds the potential to reinvigorate the USD bulls and drag the precious metals lower.
Crude Responds to Resistance Zone (84 to 86)
Crude Oil Struggling to Recover, SPX 500 Bounce Runs Into Resistance
Crude oil prices are struggling to make good on a bullish reversal chart formation while the SPX 500 has run into resistance after recovering to the highest level in 3 weeks.
WTI Dips Below $80 Handle, Natural Gas Carves Fresh 2014 Low
Crude oil remains in a precarious position as anticipation of ample supplies threatens to drag the commodity lower.
Bank of Israel November Rate Unchanged: USD/ILS Ascends
The Bank of Israel maintains their present 0.25% interest rate as weak economic activity and preexisting geopolitical risk leave the USD/ILS in an ascent.