Crude oil is a form of petroleum that can be refined into various products to power the global economy. The different oil types are referred to as benchmarks, and all signify a specific drilling location and quality of product. The highest quality of oil tends to be low in sulphur (referred to as ‘sweet’ by oil traders) and low in density (referred to as ‘light’). The three major benchmarks are Brent crude, WTI, and Dubai/Oman.
WTI (West Texas Intermediate) is a medium-sized crude oil taken from the wells in West Texas. WTI crude oil futures contract has good liquidity and high price transparency. WTI is one of the three benchmark prices in the world crude oil market, and is the benchmark of all oil in the United States.
WHY TRADE CRUDE OIL CFDS with BYFX GLOBAL
Crude oil is widely used and actively traded. Buying or selling a single oil CFD is the equivalent of trading a single oil future, i.e. buying 1000 barrels in the underlying WTI market.
Energy commodity has been subject to regular and substantial price movements. Oil price volatility results in significant trade opportunities for traders.
BYFX Global offers 100:1 leverage for traders to maximize the impact of their trades.
As a hard asset with low correlation to stocks and bonds, energy investments could diversify your assets and enrich your investment portfolio.
OPEN YOUR ACCOUNT IN
THREE SIMPLE STEPS!
Already have an account? Click here to login.