Crude oil is an unrefined petroleum product that is naturally occurring from hydrocarbon deposits and a few other organic materials. It is a major energy source and the primary feedstock for the production of various fuels, including gasoline, diesel, and jet fuel.
The top oil-producing countries include the United States, Saudi Arabia, Russia, Canada, and China. These countries possess significant reserves of crude oil, although the exact figures vary over time due to exploration and extraction activities.
5-year historical Crude oil price chart of crude oil in USD:
Crude oil trading is a commodity product that can be traded in the Indian market on the MCX (Multi Commodity Exchange), where prices move based on the underlying which is US oil price fluctuation. Crude oil is traded on the MCX (Multi Commodity Exchange) in derivative forms, which are futures and options.
Every week, crude oil has inventory data that has a significant impact on the oil market and its prices. Here are some key points to understand the impact of crude oil inventories:
MCX Crude oil mini: which was introduced in 2015 and later discontinued in 2019, and now it has relaunched on March 20, 2023. A few details about crude oil mini-trading:
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