Oil is the most discussed commodity in the mass media because it is a basic need as fuel for the electricity industry, transportation, as well as raw material for plastics, petrochemicals, and various other products. The huge demand that tends to increase and the limited supply makes oil an attractive commodity for traders.
Trading allows trade in a long position, where you can first buy a currency at a low price to sell when the price increases, or short, where you sell a currency that is expected to experience a decline in exchange rates with the opportunity to buy it back at a later date. come at a lower price. This provides profit opportunities even when the market is weak.
As a fuel and raw material for the world’s industry, oil has a great demand. Oil supplies are limited and only found in a few countries in the world. Even 75% of oil supplies come from 12 countries that are members of OPEC. Oil prices are influenced by the amount of production, the number of exports, and often by various political issues or production barriers that cause price volatility.
