Brent Oil Exchange rate


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Editors’ Picks

EUR/USD struggles to retain 1.1500 as USD gains traction

EUR/USD struggles to retain 1.1500 as USD gains traction

EUR/USD hovers around the 1.1500 level in the American session on Friday. The US Dollar surges despite dovish comments from Fed Governor Waller, supporting a rate cut as soon as July. The mood sours as investors weigh Middle East developments. 

GBP/USD dives below 1.3500 after weak UK data, resurgent USD

GBP/USD dives below 1.3500 after weak UK data, resurgent USD

GBP/USD turned red for the day and approaches the 1.3450 area as the week comes to an end. Earlier in the day, the UK reported weak Retail Sales figures, although the ongoing slump seems related to renewed risk aversion fueling safe-haven US Dollar demand. 

 

Gold surges above $3,3360 as fears kick in

Gold surges above $3,3360 as fears kick in

Gold gathers near-term momentum and trades near $3,370 ahead of the weekly close, as risk sentiment took a turn to the south. Following a positive start, Wall Street turned south. Middle East tensions and massive back-and-forth missile exchanges between Iran and Israel seem to be behind the ongoing run to safety.

 

Ripple Price Prediction: How tokenized treasuries could accelerate XRP to $10 by end-2025

Ripple Price Prediction: How tokenized treasuries could accelerate XRP to $10 by end-2025

Ondo Finance launched tokenized treasuries on the XRP Ledger in June, paving the way for seamless institutional adoption. The market capitalization of tokenized treasuries has grown to $5.9 billion despite market uncertainty over US tariffs.

Weekly focus: War and risk of escalation weigh on market sentiment

Weekly focus: War and risk of escalation weigh on market sentiment

The war between Israel and Iran and the risk of further escalation weighed on markets this week. Equity markets largely traded in red and US treasury yields slid lower. That said, markets were by no means in full risk-off sentiment.

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BRENT OIL, ENERGY COMMODITY

Brent Oil (or Brent Crude) is a major trading classification of sweet light crude oil that serves as a major benchmark price for purchases of oil worldwide. It is extracted from the North Sea. Brent oil contracts in the ICE (Intercontinental Exchange) are quoted in US dollars. It is the benchmark used primarily in Europe though it is also mixed in with the OPEC Reference Basket which is used around the world. Brent blend makes up more than half of the world's globally traded supply of crude oil. Crude oil is the highest volume contract that is traded worldwide for a physical commodity.

USD/CAD, AUD/USD and NZD/USD are called “commodity pairs” because they are highly correlated to commodity (especially oil) fluctuations.

When making trading decisions in the commodity pairs, it might be a good idea to take a look at the correlated commodities because it can help to predict future up or down movements.


HISTORIC HIGHS AND LOWS FOR BRENT OIL

  • All-time records: Max:147.27 on 07/07/2008 - Min: 9.75 on 31/03/1986
  • Last 5 years: Max:86.71 on 03/10/2018 - Min: 26.08 on 11/02/2016

* Data as of February 2020


ASSETS THAT INFLUENCE BRENT OIL THE MOST

  • Currencies: USD.
  • Commodities: Natural Gas.
  • Bonds: T-Bond (Treasury bond is a marketable, fixed-interest U.S. government debt security).
  • Indices: BRENT Index (the cash settlement price for the Intercontinental Exchange (ICE) Brent Future based on ICE Futures Brent index at expiry) and WTI (West Texas Intermediate is a grade of crude oil used as a benchmark in oil pricing, the underlying commodity of NYMEX's oil futures contracts).

ORGANIZATIONS, PEOPLE AND ECONOMIC DATA THAT INFLUENCE BRENT OIL

Weekly crude inventories (that represent the supply of oil) are very closely watched by traders, in particular those reported by the EIA (Energy Information Administration) and the API (American Petroleum Institute).
On the other hand, an important indicator of underlying oil demand growth is the world GDP growth rates (in periods of recession, the consumption of oil tends to fall).

On how supply (inventories) and demand affect the price of oil, we recommend you to watch this short video.

In terms of influent people and organizations for the brent oil, we highlight:

  • Mike Sommers is the 15th chief executive of the American Petroleum Institute (API) since its founding. API is the largest national trade association representing all aspects of America's oil and natural gas industry. Before being named API's president and CEO, Sommers led the American Investment Council, a trade association representing many of the nation's leading private equity and growth capital firms and other business partners.
  • Mohammad Sanusi Barkindo, OPEC’s Secretary General since August 2016. He previously served as Acting Secretary General in 2006, represented Nigeria on OPEC's Economic Commission Board during 1993–2008, led the Nigerian National Petroleum Corporation during 2009–2010, and has headed Nigeria's technical delegation to UN climate negotiations since 1991. The Organization of the Petroleum Exporting Countries is a permanent, intergovernmental Organization, created at the Baghdad Conference in 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
  • US Oil & Gas Association, was founded in October 1917 in Tulsa, Oklahoma, following the United States’ entry into World War I. This trade association “promotes the well-being of the oil and natural gas industries in the United States”.
  • Vladimir Putin, who has served as the president of Russia since 2012, previously holding the position from 2000 until 2008.