Brent Oil Exchange rate


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Editors’ Picks

EUR/USD holds around 1.0900 despite sentiment deteriorates

An unattractive dollar helped EUR/USD reach 1.0926, its highest in a week. The positive market’s mood that lead the way ever since the week started begun to ease. Wall Street trimmed early gains, ends the day mixed.

EUR/USD News

AUD/USD struggles near 0.6200

 

The AUD/USD pair is losing some ground after flirting with the 0.6200 level, weighed by US indexes losing ground ahead of the close. RBA’s optimistic stance underpinned the Aussie.

AUD/USD News

Coronavirus figures: Why traders should ignore Mondays and Tuesdays, focus on other stats

 Figures on Mondays tend to show a drop in cases and deaths in various places in the world. such as Spain, and New York's figures all provide hope, contributing to a massive stock market rally on Monday, April 6.

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Gold: Investors could be getting complacent and gold is great barometer

he USD 1640.00 level is a decent support level to watch as it has been used on six occasions and seem reliable. Even if it does break it will tell you a lot about the state of the market and the perception of the safe-haven asset.

Gold News

WTI taking a breather below $30.00 a barrel

WTI consolidates last week’s advance as WTI is weighing the Trump tweet suggesting that a Saudi-Russian deal has been concluded. 

Oil News

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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.