How To Trade Oil Now ?
Like all the markets, oil is experiencing a lot of volatility these days. Read on for our answers to the most common questions about trading on the oil market. Learn what instruments to trade, how they will behave, and what events can bring you profit.
What is moving oil prices
•The trade war between the US and China and other geopolitical tensions
•Shifts in OPEC+ policies impacting supply and demand
•Market reactions to new developments
Recent example:
What instruments to trade
When speculating oil, crude oil futures are the most commonly traded instrument.
XBRUSD lets you trade Brent crude oil against the US dollar and is the most popular instrument for trading oil. The Brent oil price reflects global factors, particularly in Europe, Africa, and the Middle East.
WTI oil is reflected by the XTIUSD instrument. WTI is more sensitive to oil supply and demand dynamics in the United States.
Energy stocks often correlate with oil prices, but they also factor in company performance and broader market trends. You may want to consider stocks of the following oil and gas companies for trading:
•XOM (Exxon Mobil) •CVX (Chevron) •BP (BP)
What factors to watch
OPEC+ decisions
Сhanges in production quotas impact the global supply and, consequently, oil prices.
US economy health (GDP, inflation, employment data, etc.)
A strong US economy typically stimulates oil demand, especially for transportation and industrial use.
Geopolitical events
Any turmoil in key oil-producing regions (the Middle East, Russia, and Venezuela) can cause supply disruptions and lead to price fluctuations.
Chinese economic data
China is one of the largest oil consumers, so news regarding economic growth may mean increased demand.
US—China tariff war
A slowdown in the global economy and disruption of supply chains can reduce demand for oil.
Activity of hedge funds
Large positions in energy stocks and oil futures can signal a shift in market sentiment.
Renewable energy impact
Long-term traders should be aware of the growing push for renewable energy, which could eventually reduce global dependence on oil.
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