Factors that affect the oil prices

When trading in oil, it is important to know the factors that could affect the price of oil. We give you a summary below :

Following are the factors that affect the oil prices :

1. Shortage of supply.
2. Taxation.
3. Market sentiment.
4. Accidents.
5. Bad weather.
6. Increasing or decreasing demand.
7. Slowdown of the transport system that delivers oil.
8. Labour disputes and other production disruptions.
9. Wars.
10. Natural disasters.

The factors that influence the price of crude oil are not entirely the same for products. Even the magnitude of the influence of these factors may vary for crude oil and for products.

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