Trading crude oil on the forex platform may be somewhat different from trading in other commodities. Retail traders can however access trading on the asset, usually in the form of contract-for-difference CFD , which does not involve physical exchange of the asset. However, the last decade has seen technological advancements and deregulation facilitate increased US shale oil production, leading to a shift in the balance of global supply from OPEC to the US. Usually, contracts exist for both US crude and UK crude. Demand for oil, on the other hand, generally depends on overall global economic growth as the commodity has wide-ranging applications.
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