Crude oil is still the world's main energy source, contributing 40% of the world's total energy needs. The world consumes about 76 million barrels of crude oil per day. With more than 160 different types of benchmarks for oil, crude oil prices are pegged to three main benchmarks: London Brent, West Texas Intermediate (WTI) and Dubai / Oman crude.

Crude Oil Fundamental Drivers

• US Dollar and Canadian Dollar fluctuations.
• Geopolitical situation in major producing and importing countries
• OPEC and Non-OPEC production
• Oil market reports, such as Weekly Statistics Bulletin from API, EIA Weekly Oil Status Report, and Baker Hughes Weekly Oil Rig Counts
• OPEC intervention
• Global oil demand
• Renewable energy or bioenergy demand
• Natural events

Why trade GOFX crude oil?

Trading with leverage

Smaller contract size

Cash settlement transactions

Risk management of oil price movement

Diversify investment portfolios

Mitigating counterparty credit risk through Indonesia Clearing House