AXIORY CRUDE OIL TRADING

Trade WTI and Brent Oil CFDs With Axiory

Trade the world’s most popular and exciting energies with Axiory, West Texas Intermediate (symbol: CL), and Brent (symbol:Brent) on the platform and the account type of your choice. You can also trade the newest products on the market; the UK Oil Index and the US Oil Index which were designed to offset volatile oil prices. Oil is a highly volatile commodity which presents many opportunities for traders across the globe. Get in on the action, select your asset, your platform and your account and start trading oil in less than 10 minutes.

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CFD on Brent

Brent oil is manufactured mainly in the UK and Norway and mined in the North Sea. The oil has excellent chemical composition and quality which determines its liquidity in the energy market.

Main Indicators: OPEC news, Trade decisions between Europe and the rest of the world, UK and EU economy.

CFD on WTI

West Texas Intermediate (WTI) is manufactured in the US and mined in Texas. WTI is widely used in South and North America where it is cheaper due to logistics. It is also exported across the world.

Main Indicators: OPEC news, Trade decisions between the US and the rest of the world, US economy.

US / UK Oil Index

The US and UK Oil Indices track the movement of WTI and Brent and offset their price, remaining as live products even in the case that it drops below 0. These products are rebased at $100. This means, should spot price fall into negative territory, for example -$5 USD, the pricing will reflect this at $95.

Both products are independently tradable and use the same indicators as the ones used for WTI and Brent. Their conception follows the historic event of April 21st 2020, when the WTI May contract price dropped below 0 for the first time in history and was subsequently closed and no longer tradable. With that in mind, traders can choose to trade the US and UK Oil Index which will not stop out positions if oil prices drop to $0.

5 INDICATORS THAT AFFECT OIL PRICES

Supply and Demand

Supply from global oil producers has to meet demand from the market. In general, when supply exceeds demand, prices tend to drop and when demand exceeds supply, prices tend to rise. Keep in mind that suppliers of Brent oil are European while suppliers of West Texas Intermediate (WTI) are US based, so supply and demand status is different for each product. WTI traders can follow the US Energy Information Administration (EIA) which releases a weekly report on the numbers of barrels in US stocks. This clarifies if supply is increasing or decreasing in the face of demand or vice versa.

OPEC Statements and Decisions

The Organization of Petroleum Exporting Countries (OPEC) is one of the biggest influencers on oil price. This intergovernmental organization comprises 13 oil producing countries and is estimated to control 42% of global oil production. OPEC can increase or decrease supply, make deals with non-OPEC countries and make many other influential decisions. Their decisions are extremely important for estimating the next price movements for oil products.

Conflict and Political Unrest

When there’s any form of conflict or political unrest, especially in oil producing countries, it’s very likely that oil production, export or import from these countries will be affected, affecting the global status of oil. Trade agreements, breaking treaties, threats of war, active war and even speeches or tweets by presidents related to these topics are all significant indicators for oil price movements.

Global Economic Indicators

Overall economic indicators which affect all tradable products also have an impact on oil prices. Global GDP is one of the most important indicators; it shows the growth of the economy, usually higher growth creates more demand. Other indicators include industrial production and manufacturing production.

Market Sentiment

This may go without saying but it must be mentioned. Market sentiment, whether it’s bullish or bearish, should always be taken into account when trading oil products. With Axiory, you can use both our Autochartist and Axiory Strike Indicator tools to help you spot upcoming trends, and you can follow our daily technical analysis to stay up to date with market sentiment.

CHOOSE BETWEEN MT4 & CTRADER TO TRADE OIL

At Axiory you can trade oil on one of two top notch platforms; the industry’s standard MetaTrader 4 platform
and the equally impressive and advanced cTrader platform. Get both platforms on all your Mac, Windows,
Android and iOS devices. Compare these two impeccable trading platforms and choose yours: