Oil is one of the most commonly traded commodities in the world, and is available for trade in most of the top Forex trading platforms, as well as in many leading binary options platforms.
Oil is often known as petroleum, though in reality, petroleum is the result of the processing of crude oil, a natural liquid that is found underground. Crude oil prices fluctuate based on a variety of factors including natural disasters, political factors and fluctuations in the currency markets.
Likewise, oil prices also affect the Forex market, and therefore, it’s hardly surprising that many Forex traders also keep an eye on crude oil prices, and many even trade crude oil as a way to diversify their trading. To help you expand your trading horizons, the DailyForex trading room is happy to provide you with regular crude oil price technical analysis – we hope that it helps you trade profitably!
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The futures contract for the West Texas Intermediate Crude Oil market melted down early in the session on Monday, as talk of a potential cease-fire in Ukraine started to make the rounds again.
The WTI Crude Oil market rallied a bit on Friday as we reach towards the crucial $110 level.
The West Texas Intermediate Crude Oil market has drifted a bit lower during the trading session, but not without buying pressure at various points in the day.
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The crude oil market was decimated on Wednesday as the bottom fell out of the markets.
The West Texas Intermediate Crude Oil market rallied rather significantly again on Tuesday as we continue to see a lot of concerns when it comes to oil disruption, especially as the Biden administration has now banned all Russian imports into the United States.
The West Texas Intermediate Crude Oil market initially gapped for the open on Monday and then shot all the way up to the $130 region.
The West Texas Intermediate Crude Oil market rallied significantly on Friday to break above the $112 level.
The West Texas Intermediate Crude Oil market has been all over the place during the trading session on Thursday.
The West Texas Intermediate Crude Oil market has gapped higher to kick off the trading session on Wednesday and then shot straight towards the $112.50 level.
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The West Texas Intermediate Crude Oil market broke significantly higher on Tuesday to slam through the $100 level.
The West Texas Intermediate Crude Oil market has spiked at the open on Monday as we have seen more fear enter the market
The West Texas Intermediate Crude Oil market initially tried to rally during the day on Friday in a way to continue the overall uptrend.
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The WTI Crude Oil market has rallied quite drastically on Thursday as Vladimir Putin sent troops into Ukraine, kicking off a major “risk off” type of situation.
The West Texas Intermediate Crude Oil market has gone back and forth during the course of the trading session on Wednesday.
The West Texas Intermediate Crude Oil market initially gapped higher on Monday, but then turned around to show signs of hesitation.