Crude oil (USOIL) is a key commodity in global energy markets. Trade crude oil with FXPrimus for deep liquidity, strategic hedging opportunities, and access to one of the most actively traded assets worldwide.
Crude oil (USOIL) is a key commodity in global energy markets. Trade crude oil with FXPrimus for deep liquidity, strategic hedging opportunities, and access to one of the most actively traded assets worldwide.
| Symbol | Digits | Avg. Spread | Commission | Margin | Contract Size |
|---|---|---|---|---|---|
| USOIL.sp Spot Crude Oil |
2 | 5 | 5 | 1% | 1000 |
| Symbol | Digits | Avg. Spread | Commission | Margin | Contract Size |
|---|---|---|---|---|---|
| USOIL.sp Spot Crude Oil |
2 | 5 | 5 | 1% | 1000 |
Crude oil is the lifeblood of the global economy, influencing industries from transportation to manufacturing. Its price is driven by supply and demand, OPEC decisions, geopolitical tensions, and macroeconomic trends.
Oil traders closely monitor inventory reports, production levels, and demand forecasts from energy agencies. Fluctuations in the U.S. dollar and inflation also impact crude oil prices.
With high volatility and market participation, crude oil provides both speculative and hedging opportunities for traders looking to capitalise on price swings.
USOIL refers to West Texas Intermediate (WTI) crude oil, a benchmark used to measure oil prices globally. In trading platforms, USOIL typically represents the price of WTI crude oil quoted in US dollars. It is widely used as a reference for energy markets and oil-related financial instruments.
USOIL trading involves speculating on the price movements of WTI crude oil. Price changes are influenced by supply and demand dynamics, geopolitical events, economic data, and production decisions by major oil-producing countries. Traders usually follow energy market news and price charts to understand market behaviour.
The price of USOIL is influenced by global oil supply levels, demand from major economies, OPEC and OPEC+ production decisions, inventory reports, and geopolitical developments. Broader economic conditions, such as inflation and economic growth, can also play a role in oil price movements.
USOIL is one of the most actively traded commodities, which means market data and educational resources are widely available. However, oil prices can be volatile, especially during periods of economic or geopolitical uncertainty. Beginners may benefit from learning how commodity markets function before engaging with oil-related instruments.
USOIL trading is generally available for extended hours during the trading week, depending on the platform and instrument offered. While it does not trade continuously like cryptocurrencies, oil markets often remain active across major global trading sessions, allowing price movements to occur beyond traditional stock market hours.
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