Crude oil remains an integral source of energy around the world, which means it’s often in high demand and creates extremely liquid market conditions. When you trade Brent oil with OANDA, it can be beneficial for traders to look at any factors or events affecting supply or demand. This can have a subsequent impact on the Brent Crude oil price.
− Regional and global economic performance
− Crude oil reports (released on a weekly basis)
− Shifts and trends in the renewable energy sector
− Political instability or conflict
− OPEC oil production increases / decreases
− The performance of the US Dollar