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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 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.
Russia Announces FX Repo: USD/RUB Finds Support in Bullish Channel
The USD/RUB finds temporary relief on Central Banks FX Repo Announcement.
Crude Oil Chart Setup Hints at Rebound, SPX 500 Liquidation Stalls
Crude oil technical positioning hints prices may recover after hitting a four-year low while SPX 500 liquidation has paused after prices tagged a 6-month low.
Gold Rally at Risk Amid Sticky US Inflation- $1222 Key Support
Gold prices pushed higher for a second consecutive week with the precious metal rallying 1.27% to trade at $1238 ahead of the New York close on Friday.
Crude Oil Bounces As Bears Book Profits, Gold Awaits US Sentiment Data
WTI rebounded strongly in recent trade with the door potentially still open to profit-taking, meanwhile gold awaits guidance from upcoming US consumer confidence data.
Crude Resistance is 84 to 86
Crude Oil Extends Declines Before Inventories, Gold Climbs On USD Dip
WTI remains in a precarious position with a high threshold for upcoming US inventories data to alleviate lingering supply glut concerns.
Crude Oil Sell-Off Intensifies, Gold Faces Mixed Cues Ahead of US Data
Crude continues to suffer as supply swell expectations and global growth concerns endure, meanwhile gold awaits guidance from US Advance Retail Sales data.