How does oil trading work and what strategies should you follow? Learn how to trade crude oil with our expert guide, including top tips on tracking oil price movements…
Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇪🇺EUR: -0....Both fundamental and technical analysis is useful for oil trading and allows traders to gain an edge over the market.is the world economy’s primary energy source, making it a very popular commodity to trade.
Brent crude is the world’s benchmark for oil with almost two thirds of oil contracts traded being Brent oil. WTI is America’s benchmark oil, it is a slightly sweeter and lighter oil compared to Brent. WTI trades on CME Globex: Sunday - Friday, 6:00 p.m. - 5:00 p.m. while Brent trades on ICE: Sunday - Friday - 7:00 p.m. - 5:00 p.m.When trading oil, the two major focal points is supply and demand. Whether there was an economic report like a news event or press release or tensions in the Middle East, the two factors that will be taken into consideration is how supply and demand is affected, because this will affect the price.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.
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