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Please tell us where you heard about us. MyAccount COMPARE TRADING PLATFORMS Crude oil is a naturally occurring petroleum product commonly used in energy production and manufacturing. As such its price has a dramatic impact on the global economy. In general, higher oil prices tend to undermine economic growth as this increases travel and shipping expenses, which trxding inflationary pressures and thus personal consumption typically weans.
Two of the major classifications for crude oil are US Oil, commonly referred to as West Texas Intermediate WTI and UK Oil, or Brent Blend. Fores prices are significantly influenced by the balance of supply and demand since it is so heavily consumed on a daily basis. Terms frequently mentioned when referencing this supply vs. Traders often look to gauge the level of consumer demand by looking at the relative strength or weakness in global economies via monitoring GDP, retail sales, consumer spending, etc.
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