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| Non-renewable resource, needs to be refined |
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- North America: West Texas Intermediate (WTI) - delivered at Cushing, OK
- Europe: Brent/Dated Brent
- Middle East: Dubai Fateh
- Asia: Tapis
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Quoted in barrels (42 gallons = 1 barrel)
Dept of Energy (DOE) reports released Weds @ 10:30 EST |
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| Measures density, a higher API number refers to a lighter crude, lower gravity means it's heavier. Also measures sulfur content, typically want a low sulfur content. |
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| High API gravity and low sulfur content |
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| another source of energy, found with crude oil deposits. Also stored in rocks, obtained through fracking. Burned for electricity, used to power, heat/cool homes. |
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| Produced by burning another form of energy like coal, oil, natural gas, nuclear, wind or hydro. It cannot be stored, so supply is always going to meet demand. |
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| anything used in production (copper, tin, iron, etc.) trade both OTC and on Exchange |
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Definition
store of value (gold, silver, platinum, etc.)
Trade Similarly to FX XAU is gold so…USDXAU 1.00 USD will get you X amount of XAU
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oldest commodity market
- Grains
- Livestock
- Softs: OJ, Sugar, Coffee
- Fibers: Cotton, Wool
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