Oil trading on Forex
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Oil trading chart
26 Feb 2020 03:34
(0.02%)
Closing price, the previous day.
Opening price.
The highest price over the last trading day.
The lowest price over the last trading day
Price range high in the last 52 weeks
Price range low in the last 52 weeks
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.
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