Crude oil

Crude oil is a naturally occurring petroleum product commonly used in energy production and manufacturing. Crude oil is often bought for refining to produce diesel, gasoline, fuel oil, jet fuel, plastics, cosmetics, pharmaceuticals and fertilizers for everyday use. So its price has a huge impact on the global economy. Generally speaking, higher oil prices tend to undermine economic growth, as they increase the cost of travel and transportation, raising inflationary pressures and generally stalling personal consumption. The two main categories of crude oil are American oil, commonly known as west Texas light (WTI) and bp, or brent. Both types of crude oil are characterized by "low viscosity" and "low sulfur," which indicate their low density (which makes refining and transportation easier) and low sulfur content (which makes them less impurity and less costly to refine). As a result, they are closer to the desired finished product and tend to be more expensive than other "viscous" and "acidic" crude.

Hongze(Hong Kong) Investment Consulting Limited High exchange offers you two physical crude oil transactions, west Texas intermediate (wti-nymex) and BRENT (brt-ipe).

BRENT (brt-ipe)

Produced primarily in the north Atlantic brent region of the north sea of Great Britain, it is widely traded in the futures, otc swaps, forwards and spot markets. BRENT crude is the core of today's global oil pricing system. It is considered as a "highly flexible risk-averse and trading tool". About 70% of international oil trade USES the BRENT market price as the benchmark directly or indirectly.

West Texas intermediate (wti-nymex)

Mainly produced in the United States, North America is a relatively common type of crude oil. All crude oil produced in or sold to the United States is priced against the light, sweet WTI. The crude oil futures contract has good liquidity and high price transparency, and is one of the three benchmark prices in the world crude oil market.

Hongze(Hong Kong) Investment Consulting Limited The price of spot crude oil at goldexchange is derived from the weighting of commodity futures contracts over the past two months, as well as the message in New York.