Oil is easily one of the most sought-after commodities globally because of its multiple uses, but it is also one of the assets that is most pliable to outside pressures created by various interested parties.
Since a relatively low number of countries control oil supply, changes in that supply usually have a swift and measurable impact on its price. But you mustn’t fear that impact – you should harness it for your financial purposes.
Take, for example, recent tensions around Ukraine. Countries worldwide have announced sanctions against Russia, one of the world’s largest suppliers of black gold, and, as a result, sent prices soaring to levels not seen in nearly a decade.
As CFD traders probably know – there is a real opportunity in such movements in price. Generally, while tensions and sanctions continue to escalate, Oil’s price may remain high, while any serious and prolonged break or easing of sanctions – will send it lower.
But no matter where Oil is going next – you can be there, ready to seize the opportunity and potentially profit from it, so don’t hesitate – act now.
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