Crude oil is also called "black gold".
It is a naturally occurring petroleum product commonly used in energy production and manufacturing. Due to the nature of scarcity, it is considered as it can keep the value, or even increase the value. It is typically purchased with the intent to be refined into everyday uses such as diesel, gasoline, heating oil, jet fuel, plastics, cosmetics, medicines and fertilisers. As such its price has a dramatic impact on the global economy. The trade of crude oil product involves many industries, not only playing an important role in the global spot markets, but also affected by geopolitical factors and other trader activities. Participants in the global crude oil market are from large companies to individual consumers who cheer every day for cars. Airlines are engaged in crude oil trading to cope with oil price fluctuations, Wall Street traders traded crude oil in order to take advantage of market changes make profit. Factors that affect changes in crude oil prices currency price changes can be political, economic factors, and even weather reasons.
Overnight Interest Rate
The gold/silver overnight interest rate will be calculated on the same basis as Forex trading.
Example: Oil Dealing
1000 barrel per Lot
USD 510 (1:100)
Market price is $56.00 (5 dollars increased)
Profit = USD 5000.00
Market price is $46(5 dollars is decreased), loss will be $5000.00.
Contract due date
New York Mercantile Exchange
BL Global Markets