Facts about Crude Oil that Every Trader Should Know

Do you want to learn about oil trading before venturing into this sector? Here are fascinating facts to know about crude oil trading. 

While most traders are likely aware of the fundamentals of crude oil, you can learn a lot more about this in-demand good, including how its history, widespread application, and distinctive value can affect oil trading choices.

This article covers essential and fascinating oil facts that every trader should know. These will aid in creating a more comprehensive view of the oil market and how to trade it.

Surprising Facts about Crude Oil

1. Crude oil is a natural resource whose composition varies depending on location.

Crude oil is a naturally occurring substance made primarily of hydrocarbons with sulfur, nitrogen, and oxygen traces. It develops from the remains of little creatures and plants buried millions of years ago. All these organic substances convert to crude oil due to environmental conditions like heat and pressure.

Light, medium, heavy, or weighty oil can be categorized based on the kind of oil and the extraction method. The American Petroleum Institute (API) uses its gravity (or API gravity) unit to determine how heavy or light crude oil is. The oil is weighty and more challenging to process the lower its API gravity. And this is what distinguishes Brent from WTI. When trading this commodity, consider using reputable platforms like https://oil-profits.com/. Such platforms provide information to help you understand the market inside out.

1. Almost every product you see uses crude oil, including the device used to read this article.

Due to its widespread use in daily life, people regard crude oil...