Like all commodities, the price of oil is heavily influenced by supply and demand. This will now be your default target page; unless you change your configuration again, or you delete your cookies. Actions Add to watchlist. Brent Crude Oil As of Jan 09
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On an international level there are a number of different types of crude oil, each of which have different properties and prices. For the purposes of trading on futures exchanges in London or New York, however, reference oils are used. These are standardised products used to determine the prices for all other types.
Prices are indicative and may differ from the actual market price. Intraday 1w 3M 1y 3y 5y Max. Brent crude heads for best week in 2 years. The price of oil is the most important value on the international commodity markets. Crude oil is the most important commodity and emerging industrial markets such as China, India and Latin America greatly influence the price of oil, since they require more and more oil to support their economic growth and resulting rise in energy consumption.
The supply of crude oil is limited, however, and cannot be increased further, since it has become increasingly difficult to find and develop new oil reserves in recent years. As a result, the price of oil has a strong influence on international economic development, since it is urgently needed in all industrialised countries when supplies are limited.
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