In the international oil trade, the financial attribute of the benchmark oil price has become increasingly prominent. Although the spot market is still the basis for the formation of benchmark oil prices in international oil trade, the futures market has the function of price discovery, which can greatly increase the liquidity of trading and play a leading role in the changes of world crude oil prices through the trading of basic crude oil varieties.
Financial attributes play an increasingly prominent role in the formation of world crude oil prices, and the financialization of oil prices has boosted the rise of oil prices to some extent.
Extended data:
The forms of oil trading mainly include oil futures trading and oil spot trading. Because spot trading is superior to futures trading mode in many aspects, oil spot trading is a widely used and concerned trading method in the world, especially in economically developed countries.
20 14 February14, Beijing petroleum exchange began to launch spot oil trading, which is the first petroleum institute in China to carry out spot oil trading.
As the largest commodity in global circulation, the biggest factor affecting the trend of crude oil is the relationship between supply and demand, followed by monetary effects.
The relationship between supply and demand includes supply and demand. As long as the supply is reflected in the supply stability of the world's major oil-producing countries, if geopolitics affects the supply, it will have a greater impact on oil prices.
Demand is reflected in the demand for crude oil in the world's major economies. If the economic data, especially the industrial data of the United States, China and other countries are not good, it will directly affect the demand for crude oil.
Since WTI crude oil is only supplied to the United States, the economic data of the United States has the greatest impact on its short-term fluctuations, and the economies of other countries are more of a macro measure, such as the continuous decline of oil prices.
The so-called monetary effects is monetary policy. If monetary policy is loose, it will also push up oil prices to some extent. If the monetary policy is tight and the market funds become less, it will limit the rise of oil prices to a certain extent, but monetary effects is weaker than the relationship between supply and demand.