
About crude oil
trading
Engage in trading CFDs on one of the world’s most prominent commodities, crude oil.
The purchase of crude oil is typically used for refining to produce diesel, gasoline, fuel oil, jet fuel, plastics, cosmetics, pharmaceuticals, and fertilizers needed daily. Therefore, its price has a huge impact on the global economy.
The two most commonly traded oil contracts are Brent Crude and West Texas Intermediate. Brent is extracted from the North Sea in both the UK and Norway, while WTI is produced in the US, primarily in the states of Texas, Oklahoma, and North Dakota. Hence why you see some brokers name these CFD contracts as ‘US’ and ‘UK’ Oil.
CFD trading involves a high risk of loss.