Commodities

OPEC is made up of some of the largest oil-producing nations in the world, making it a major political and economic player. Learn more about OPEC at FXCM.

Commonly referred to as the economic lifeblood of a nation, crude oil is a sought-after commodity and popular mode of trade. The global oil markets are premier destinations for traders and investors the world over. Featuring robust liquidity and consistent volatility, oil is an ideal product for individuals interested in capitalising on long- or short-term fluctuations in pricing. While determining crude oil's relative value may be complex, trading it on…

The petroyuan is a crude oil futures contract offered by the Shanghai International Energy Exchange (INE). It prices crude oil in terms of CNY and is backed by gold. Learn more about the petroyuan at FXCM.

The petrodollar is any U.S. dollar exchanged for oil. Since a 1974 agreement between the U.S. and Saudi Arabia, the petrodollar system has been the global standard for the crude oil trade. Accordingly, the U.S. dollar is the official denomination for commerce.

Learn how low oil prices affect emerging currencies and how it can affect global economies. Find out how you can leverage this for your investment strategy.

The UK has always had a strong dependence on the use of oil. However, oil has been an especially important factor in the strength of the UK economy.

Since the late 18th century, crude oil has been a sought-after commodity in Canada. The earliest oil exploration in the country came from the frontiersmen and aboriginal peoples who lived in the remote areas and territories of its wilderness. They observed and took note of the visibly abundant deposits of bituminous sands, also known as oil sands, along waterways in what is present-day Alberta. Numerous discoveries of substantial petroleum deposits ultimately…

An Oil-Rich History Russia is one of the world's largest major oil producers and has a long history of exploiting the commodity. Collection of seep oil in what is now Russian territory was reported as early 1264 by European explorer Marco Polo in the vicinity of the city of Baku in the Caucasus region when it was under the dominion of Persia. The earliest drilling for oil in Russia was…

There is a strong correlation between oil prices and the performance of the US economy, with rising crude oil prices pushing up core inflation indicators.