Exchange quotations for crude oil and petroleum products. Main aspects and pricing mechanisms. Platts.

 

Petroleum products play a key role in the global economy and their prices are one of the most important factors for many countries and companies. Understanding how crude oil and petroleum products are quoted on exchanges and what factors influence pricing is critical to successfully participating in wholesale international trade.

Price formation mechanism

The price of crude oil and petroleum products is formed on the world commodity exchanges where these commodities are traded. The main factors affecting price formation include:

Supply and demand: Stable supply and demand for crude oil and petroleum products are the key factors that determine their prices. Changes in production, geopolitical environment, and economic trends affect the balance between supply and demand.

Geopolitical developments: Tensions in oil-producing countries, conflicts, sanctions and political decisions can have a significant impact on the prices of crude oil and refined products.

Macroeconomic indicators: Economic growth, inflation, changes in exchange rates and central bank rates also affect oil prices.

You can read the full test article on crude oil and petroleum products stock quotes at this link on REFRAT's website.

 

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