Brent Crude Oil is the trading classification for sweet light crude oil, which made up of a variety of crude blends drawn from the North Sea. It is the leading global price standard in Oil, and is used to price roughly ⅔ of global crude oil market. Named by the Shell UK Oil Company after the local Brent Goose, it is an acronym for the formative layers of an oil field: Broom, Rannoch, Etieve, Ness and Tarbat. Most Oil production that comes from Europe, Africa and the Middle East and flows Westwards is priced in relation to Brent Crude. It should be noted that major blocs of Europe now import Oil supplies from Russia.
Since 2005 Crude Oil has been traded on the electronic Intercontinental Exchange, known as ICE. One contract is equal to 100 barrels and is quoted in U.S. Dollars. In the world of Forex, Crude oil is traded as a CFD using the same quantities relative to “barrels” with USD as a base currency( 1 Lot = 100 Barrels). Because of global demand, Crude Oil is seen as an extremely sensitive and volatile commodity that can jump dramatically in response to heightened political and economic circumstances. A clear example, would be the recent civil war in Libya which caused Oil prices to jump sharply from $85 to roughly $115 a barrel over a very short period of time. PriorFX realizes how important having optimal Crude Oil trading conditions can be to the individual trader, and offers Crude Oil trading in G.B.P. as well as traditional U.S. Dollar pricing (shown as UKOIL and USOIL respectively).
- InstrumentSpreadMin. lotMax. lotTrading hours (GMT)
- USOIL0.5 pips0.1100Sun 23.00 – Fri 21.45
- UKOIL0.5 pips0.1100Mon 01.00 – Fri 21.45
Trading Crude Oil with PriorFX
PriorFX recognizes how important trading Oil is to any investor who takes the market seriously. As a result PriorFX understands how important it is to provide the trader with the best possible market conditions.
- Fast Execution & Tightest Spreads Available.
- Trading Crude Oil via Multiple Platforms ( MT4, Mobile).
- Balanced Leverage and Exposure , 1:10 , 10% of transaction value.
- Variable STP spread
Additional information regarding Crude Oil
At PriorFX rollovers are dealt with on a “spot” basis only. Meaning that all positions are settled two business days from inception, as per market rules. PriorFX will not facilitate actual physical delivery of either precious metals/currency.
The above illustrations are mere fictitious examples and are not to be construed in any way to constitute investment advice.
The performance figures quoted are only estimates and may not be reliable indicator of future performance of this investment.
This information does not constitute an offer or solicitation and is provided for information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of PriorFX at the time of preparation. They are thus subject to change without notice. PriorFX believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by PriorFX and no liability in respect of any errors or omissions, including any third party liability, are accepted by PriorFX or any director, officer or employee.