Crude oil

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.

bl global markets oil

 

Example: Oil Dealing

 

CFDs

Market price

$50.50/$51.00

Buy

$51.00

Contract Size

1000 barrel per Lot

Margin Required

USD 510 (1:100)

Close position

Market price is $56.00 (5 dollars increased)

Profit/Loss

Profit = USD 5000.00
$56.00 - $51.00 = $5.00 per ounce
1000 barrel on hand
1000 * $5.00 = $5000.00

Assumption

Market price is $46(5 dollars is decreased), loss will be $5000.00.

 

Contract due date

 

New York Mercantile Exchange

BL Global Markets

Jan 2017

20/12/2016

19/12/2016

Feb 2017

20/01/2017

19/01/2017

Mar 2017

21/02/2017

20/02/2017

Apr 2017

21/03/2017

20/03/2017

May 2017

20/04/2017

19/04/2017

Jun 2017

22/05/2017

19/05/2017

Jul 2017

20/06/2017

19/06/2017

Aug 2017

20/07/2017

19/07/2017

Sep 2017

22/08/2017

21/08/2017

Oct 2017

20/09/2017

19/09/2017

Nov 2017

20/10/2017

19/10/2017

Dec 2017

20/11/2017

17/11/2017