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Why is crude oil so popular among traders? Is it because of the sharp moves up and down that allow profits in both directions? Or maybe oil trading strategies seem easy to master? Watch the video to find out why oil trading remains so widespread and learn how to trade it on the capital.com trading platform.
Our Chief Market Strategist David Jones is here to explain everything you need to know about how to trade oil and shed some light on questions like "why do traders like crude oil?" and "how to trade oil news".
Some of the answers come from the perceived simplicity of how the oil price is determined - to any beginner it looks like supply and demand govern everything and that there is a lot of information that constantly changes these two variables.
If you delve a bit deeper you find out the next level of information about the major forces behind supply and demand - oil producing countries, global oil companies that extracts and refine the resource after its extracted from the land or sea. Then we move on to OPEC (Organization of Petroleum Exporting Countries), Russia and Iran, and their political decisions that impact oil exports outside of market forces. Learning how to trade crude oil demands at least an understanding of these players.
Demand also plays an important part in how the price is determined - the speed of growht in Western countries and their GDP could impact oil prices as a slower economy needs less resources to keep it going - and crude oil is indeed considered the lifeblood of today's economic system.
If you liked this video about how to trade crude oil, give us a thumbs up and subscribe to our channel for more videos about crude oil and trading!
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