Crude Oil Moves Based on a Number of Factors
Crude oil prices have tumbled more than 50% since hitting their 2014 highs in June, and are attempting to find a temporary bottom despite the large amounts of crude oil sitting in inventories. Similar to most commodities, crude oil prices trade based on a number of factors which include the fundamental outlook as well as the technical picture.
One of the easiest ways to look at the fundamental outlook of crude oil is to evaluate the supply and demand of crude oil in the United States. Since one of the global benchmarks West Texas Intermediate crude oil is priced in Cushing Oklahoma, analyzing US supply and demand makes sense.
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