Brent Crude Oil – Crude Oil Trading
Crude oil trading is one of the most active and liquid commodities markets, with its competitive spreads and lucrative profit-making potential attracting traders and investors worldwide. Crude oil is notable for its sensitivities to global events and supply/demand – driving forces behind the volatility that can produce consistent short or long-term returns when you trade Brent oil.
What is Brent Crude Oil?
Brent Crude Oil is the leading benchmark for crude oil trading, used to define the price for two-thirds of global oil purchases. In recent years, Brent has offered a good indication of worldwide oil prices and is traded on the Intercontinental Exchange (ICE).
The product itself is a light sweet crude oil due to its comparatively low density and low sulphur content. Brent Crude Oil derives its name from the Brent oilfield in the North Sea and comprises four crudes in total. It can easily be refined into fuels such as diesel.
What drives the Brent Crude Oil price?
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
Brent Crude Oil chart
Using OANDA’s real-time Brent Crude Oil chart can provide up-to-date commentary and insight on the performance of the market. This chart offers traders an overview of how the market has risen and fallen over the last hour, day, week or month. While it cannot be used as a guarantee for future performance, it can be used to identify former, current and potential trading spreads.
How do I trade Brent oil?
To trade Brent oil with OANDA, register for an account and experience award-winning platforms – fxTrade, MT4 and Mobile. OANDA’s competitive spreads and fast, reliable execution ensures a superb crude oil trading experience. Not quite ready to commit? Why not try a free demo?