US crude oil
U.S. crude oil is also known as WTI crude oil, currency code: usoil. WTI crude oil is American crude oil. It is traded on the New York commodity futures exchange, that is, nymexwti. Although it is also an important part of the world crude oil pricing system, it is only used for the pricing of American crude oil and has strong regional characteristics, so it has begun to gradually withdraw from the historical stage.
FXCM platform crude oil price difference contract (based on WTI crude oil quotation)
New York Mercantile Exchange (NYMEX)
6:00 am Monday to 5:00 am Saturday (Beijing time)
1000 barrels (one standard hand)
USD / barrel
minimum price change
0.01 USD / barrel
$1000 (100x leverage)
Because of the strength of the U.S. as a super buyer of crude oil and the influence of the New York Futures Exchange, the trading of crude oil futures with WTI as the benchmark oil has become the leading trading volume in the global commodity futures. Generally speaking, the crude oil futures contract has good liquidity and high price transparency, which is one of the three benchmark prices in the world crude oil market. When the public and the media usually talk about how much the oil price breaks through, they mainly refer to this price.