Oil Markets

Oil markets involve the buying and selling of crude oil, which is essential for fuel, energy, and manufacturing worldwide. Prices fluctuate based on supply (how much oil is available) and demand (how much people need or want it). Factors like geopolitical events, technological advances, production agreements among oil-producing countries, and global economic health influence prices. When supply exceeds demand, prices fall; when demand outpaces supply, prices rise. These changes impact economies, transportation costs, and energy policies, making oil a crucial and dynamic component of the global economy.