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Oil trading on Forex

Today, oil is the world’s most traded raw material. Oil deals are performed almost on all trading floors. Operations with CFDs on oil and its products are executed on all commodity exchanges, including the largest ones in New York, London, and Singapore.
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Oil trading chart

#cl
34.96 USD
29 May 2020 22:43
Price Change (% chg)
$-0.01
(-0.03%)
Prev Close
Prev Close

Closing price, the previous day.
$33.65
Open
Open

Opening price.
$32.1
Day's High
Day's High

The highest price over the last trading day.
$35.76
Day's Low
Day's Low

The lowest price over the last trading day
$32.36
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 determine oil prices?

Oil price depends on a lot of geopolitical factors and reflects market participants’ sentiment. Countries, big companies, and traders can all be considered the players in the oil market.

For example: airline companies trade oil to hedge their risks for fuel price growth, whereas traders perform deals in order to make money from market fluctuations.

Oil prices are conditioned by the same factors as the exchange rates of currencies, i.e. political developments, financial events, and even weather.

Instaforex News

*News Of The Day: Eurozone Inflation Nears Zero, Lowest Since Mid-2016 .*  Other News: 1. Treasuries Move Notably Higher As Trump Holds Press Conference On China  2. Oil Futures Settle Sharply Higher  3. Gold Futures Settle Notably Higher  4. India Economic Growth Slows Sharply On Covid-19  5. U.S. Consumer Sentiment Improves Slightly Less Than Initially Estimated  6. Chicago Business Barometer Unexpectedly Indicates Faster Contraction In May  7. Dollar Little Changed After U.S. Consumer Sentiment Index  8. *U.S. Consumer Sentiment Index Downwardly Revised To 72.3 In May  9. U.S. Personal Income Unexpectedly Spikes Due To Stimulus Checks  10. *Chicago Business Barometer Drops To 32.3 In May  

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