Crude Oil Market - Real-Time Streaming and Historical Chart (Line, Candlestick, Bar, P&F)
Live Real-Time streaming chart of Crude Oil Market with adjustable line type, time frame/period, and optional technical indicators is available here.
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Real-time streaming chart (Crude Oil Market) can be customized. You can change the time period (1 minute, 10 minute, 1 hour, 1 day or 1 week), time frame (from 10 to 500 time periods), chart type (bar, candle, line, P&F) or change/add technical indicator (Volume, RSI, MACD, Stohastic, Momentum and others); just move your mouse over the chart and notice the Options button in the right top corner of the chart. Click on this button and then adapt the settings according to your needs in the drop menu. You can also Detach the chart in a separate window and zoom it or even make it full-screen.
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About Crude Oil Market
In order to understand the fluctuations in the crude oil market which play a seminal role in determining the trade in this sector one must first be aware of the way in which the crude oil market operates. Crude oil, also commonly referred to as petroleum, is a black colored viscous fluid which is pumped out from under the ground and is classified as a fossil fuel because it is formed from the dead remains of plants and animals which inhabited our planet millions of years ago. In its purest form, crude oil is made up of elements like hydrogen, carbon and sulfur but since it is not very useful to anyone in this form, it needs to be refined by being subjected to a particular process the outcome of which is diesel, kerosene, gasoline and other petroleum products.
The prices of oil and oil products in the market are prone to regular fluctuations because crude oil is a commodity and like in case of all commodities its price is dependent on the global demand and supply. Therefore, an untoward happening which may cause the supply of oil to shrink will result in a hike in the price while a shift in the world's outlook towards other types of fuel may cause it to fall. Apart from crude oil the list of commodities available for trading features gold, copper, corn and coffee beans as all these products possess the same attributes irrespective of their source of production. However, amongst all these, it is the oil market alone which is the most vulnerable to fluctuations as the price in this case is dependent on a number of factors.
The oil market is similar to the stock market in the sense that people use it as a method of making an investment and trading as is conducted in financial markets. As regards crude oil, the buyer needs to purchase the 'futures' option after which he acquires the commodity at that price only irrespective of the changes in the market price. This is done with the expectation that the price will escalate at a later date and it this form of buying and selling which bears a profound influence on the oil market. For example, prices can be driven up by speculators who buy at a higher price and result in a sudden surge in the price in the present market. However, due to its importance, prices in the crude oil market are controlled to a certain extent by the regulatory forces of the Government which come into play particularly during extreme situations like oil crisis and economic boom.
A detailed study of the chart pertaining to the oil market would pertain to making a microeconomic analysis over the provided time frame and it is easy to make out the prices of this commodity have been particularly susceptible subsequent to the turn of the century. After having gone through a series of bullish and bearish phases, the main turning point in the oil market occurred in the year 2006 when after having undergone a number of falls the market was at a standpoint from which it could swing either ways. This depends on a number of factors, the foremost amongst which is economic growth which would translate into an increased demand for goods and services and hence more oil. Although it is the American economy which is believed to have the maximum influence on the crude oil market chart, the significance of the growing importance of the Chinese economy cannot be overlooked or disregarded any more.
China's position as the fourth largest producer of oil in the world holds sway over the crude oil market prices through its import and export strategies. An increase in the volume of oil processing and building of new refineries with larger and more efficient processing capacities has enabled China to export most of the crude oil to Australia and thus spur economic growth in the region. Therefore, as a result of this change in the dynamics and the ultimate emergence of a multi-polar world, the crude oil market need not be swayed by just one country but can experience fluctuations due to other countries as well.
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Written by: Goran Dolenc
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