Crude oil trading

The top oil-producing countries are the US, Saudi Arabia and Russia, although shifting macroeconomic factors may cause the order to change as time goes on.

Learn more about the top oil-producing countries

There are three main factors that commodities traders look at when developing the bids that influence oil prices. These are the current supply, future supply, and expected demand. Geopolitical and trade tensions can also be a big factor in oil process.

Learn more about the factors affecting oil prices

The Organization of the Petroleum Exporting Countries (OPEC) is a group of 13 of the world’s largest oil-exporting nations. It was founded in 1960 to coordinate petroleum policies and create a support system between the founding countries.

The current 13 members of OPEC include: Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Algeria, Angola, Congo, Equatorial Guinea, Gabon, Libya, Nigeria and The United Arab Emirates.

Read more about OPEC countries and how it can impact your trade

Crude oil prices have historically been influenced by various global events. For example, an important event like the US elections can influence price movements and overall volatility.

US Crude Oil 7-Day is a standalone WTI Crude Oil Cash CFD product that is available during standard weekday trading hours and remains open most of Saturday and Sunday, allowing you to react to geopolitical, economic, and market-moving events outside traditional oil market hours. Trading pauses for a short period on Sunday before weekday market pricing resumes.

When can I trade US Crude Oil 7-Day?

US Crude Oil 7-Day is tradeable 7 days and week with the following trading breaks:

• Sunday to Thursday: from 5 PM ET to 6 PM ET
• Friday: from 5 PM ET, reopening on Saturday at 4 AM ET

Please review the Market Information Sheet on the platform for exact trading hours.

How does pricing work?

During standard market hours, pricing follows our standard US Crude Oil pricing methodology, which references the underlying WTI market. When the traditional WTI futures market is closed during the weekend, pricing is derived from alternative crude oil reference markets and other relevant market information available to FOREX.com. Pricing adjustments may be applied to reflect differences between weekend reference markets and the traditional WTI market. When the traditional WTI futures market reopens, pricing returns to the standard US Crude Oil pricing methodology.

Weekend spreads may be wider than during standard market hours. In exceptional circumstances, trading may be restricted, paused, or made close-only.

How do positions work for US Crude Oil 7-Day?

US Crude Oil 7-Day is a separate market from the standard US Crude Oil CFD. Positions, margin requirements, and profit and loss are managed independently, and positions in one market will not offset, transfer to, or roll into the other.

Why might weekend prices differ from standard US Crude Oil prices?

The traditional WTI futures market is closed during portions of the weekend. As a result, weekend prices are derived from alternative crude oil reference markets, which may not move in the same way as the traditional WTI market. The US Crude Oil 7-Day price may therefore differ from the final weekday price or from the price available when the traditional WTI futures market reopens. Trading during the weekend may allow clients to respond to market developments before the traditional WTI futures market reopens, but it does not eliminate the risk that prices may gap when the traditional markets reopen.

What events can affect US Crude Oil 7-Day prices during the weekend?

Crude oil prices can respond rapidly to developments affecting global oil supply and demand. These may include geopolitical events, OPEC+ decisions, production or supply disruptions, inventory developments, and other significant energy-market events. These events may occur while the traditional WTI futures market is closed and can result in significant price movements.

Will financing charges apply?

Yes. Financing is applied to US Crude Oil 7-Day positions on a daily basis, including weekends. Positions held through the applicable financing cut-off may therefore be subject to a financing adjustment. Please refer to the Market Information Sheet for current financing information.

Can stop-loss orders be triggered during the weekend?

Yes. If a stop level is reached based on the price quoted for US Crude Oil 7-Day, the order will be triggered as usual. Execution will occur based on available prices in the US Crude Oil 7-Day market at that time. Orders associated with the separate standard US Crude Oil market will not be triggered by movements in the US Crude Oil 7-Day market.

Can trading be restricted or suspended?

Yes. In exceptional circumstances, including significant market disruption, problems with available reference prices, or other conditions where reliable pricing cannot be maintained, FOREX.com may restrict trading, make the market close-only or one-sided, temporarily suspending trading or withdrawing pricing. In extreme circumstances, you may be unable to close a position until reliable price formation resumes.