The exchange rate of USCrude
USCrude is a type of crude oil that is produced in the U.S. largest oil fields. According to the U.S. energy Department report at the end of July 2018, at present, the production of shale oil continues to increase and the "black gold" output has been up to a record high of 11 million barrels per day. However, most of the oil produced in the USA is exported to the East, as oil refineries along the Gulf of Mexico are able to process only lighter types of crude oil. U.S. shale oil USCrude is mostly priced, compared with the WTI benchmark (West Texas Intermediate), while other, lighter types of oil that are usually exported to Asia, such as crude oil from Angola and Nigeria, are estimated in comparison to Brent benchmark. Oil-producing companies that use Brent as a reference price have to, therefore, offer lower prices for their products in order to compete with the U.S. shale oil USCrude in the Eastern markets. The financial instrument USCrude is appropriate for both investing because of its investment opportunities and for online margin trading to make profits from the differences in the prices. USCrude contracts are primarily traded in the US dollars. You can also trade USCrude oil online, buying and selling oil with contracts for difference. The real-time price chart of USCrude is below.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.