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Trading Dow Jones Crude oil pricing factors Crude oil holds a fairly stable value due to the overall constant rate of global production and demand.
However swift and wide fluctuations can also be observed, especially during times of geopolitcal tensions at, or near major oil producers. The best way to approach crude oil binary option trading is to rely on fundamental analysis and use binary option gas analysis to determine the best entry and exit points for your trade. Here are some of the main factors you should be on the lookout for: Weekly US crude oil inventories report, due at Binary option gas on Wednesday Monthly IEA and EIA oil market reports OPEC, Russia and North Sea production Natural disasters that may affect crucial infrastructure, especially in the Gulf of Mexico and the North Sea Geopolitical turmoil at or near binary option gas oil producers, especially in the Middle East Economic data from major oil consumers which may point to an acceleration or deceleration in economic activity, and thus in oil demand, especially in the US, China and Europe The inventories report is the first data checked by investors when they plan to bet on crude oil binaries.
Because the US crude oil inventories report reflects changes in the supply-demand balance, the report often causes prices to fluctuate. However, because the government report is not the only factor affecting oils pricing, your analysis cannot be based solely on the EIA statistics, which means you need to combine the information received from the report with other data to make an accurate prediction.
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Weather and disasters Weather reports can turn into one of the most important factors that affect the price of crude oil. For example, if weather agencies predict a long and cold winter, then it is very likely that there will be higher demand for heating fuels.
Also, extremely cold weather typically causes vehicles engines to use up more fuel, driving additional demand.
Natural disasters such as hurricanes will also affect oils price. Oil platforms located along the US Gulf coast are often hit by hurricanes which significantly reduce their operation capacity by forcing staff evacuations.
This in terms cuts supply output and causes a jump in prices.
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Seasonality is also a factor as refineries are typically shut for maintenance to switch to the production of summer- or winter-grade fuels ahead of the respective season. Economic data, unrest As logic dictates, major economic data and macroeconomic events also affect oils pricing since a contracting global economy will spur less fuel demand as opposed to booming growth.
Thus, during times of recession, oil is typically trading at lower prices, in case there are no threats on the supply side.
Conversely, economic expansion implies higher demand for oil, and thus higher prices. Oil traders focus is primarily shifted toward data from the United States, China and the European Union as a single entitythe worlds top three consumers.
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And last but not least, geopolitical turmoil at or near major oil producers tends to have an immediate and strong effect on oil prices, especially when it comes to members of the Organization of the Petroleum Exporting Countries and neighboring nations, as well as Russia — the worlds top energy exporter.