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US English

Oil holds steady, traders await OPEC response to oil releases

By Jenal Mehta

14:47, 25 November 2021

Oil pipe line valve in front of the barrels with OPEC symbol
US Senator Elizabeth Warren accuses companies of price gouging – Photo: Shutter Stock

Oil prices remained mostly steady as the markets wait for the Organization of the Petroleum Exporting Countries (OPEC) to respond to the release of oil reserves by the US and other nations.

The 13-nation cartel is scheduled to meet on 2 December. OPEC previously tweeted of signs of a growing surplus.

US crude oil traded around $78 per barrel, while Brent crude oil traded around $82 per barrel.

China is non-committal on whether to release oil form their reserves per Reuters.

Meanwhile, US Democratic Senator Elizabeth Warren of Massachusetts accused companies of price gouging in a tweet, saying the recent fuel price increases isn’t about inflation.


2,004.85 Price
-1.180% 1D Chg, %
Long position overnight fee -0.0198%
Short position overnight fee 0.0116%
Overnight fee time 22:00 (UTC)
Spread 0.50

Oil - Crude

71.41 Price
+2.320% 1D Chg, %
Long position overnight fee -0.0204%
Short position overnight fee -0.0015%
Overnight fee time 22:00 (UTC)
Spread 0.030

Oil - Brent

75.98 Price
+2.030% 1D Chg, %
Long position overnight fee -0.0174%
Short position overnight fee -0.0045%
Overnight fee time 22:00 (UTC)
Spread 0.045


23.02 Price
-3.350% 1D Chg, %
Long position overnight fee -0.0204%
Short position overnight fee 0.0122%
Overnight fee time 22:00 (UTC)
Spread 0.020


Brent Crude Oil

  • Day range: 81.94 – 83.00
  • 52 week range: 46.92 – 83.83
  • One week change: 1.14%
  • One month change: -4.44%
  • Six month change: 19.69%
  • One year change: 69.04%

US Crude Oil

  • Day range: 77.76 – 78.65 USD
  • 52 week range: 43.92 – 85.41 USD
  • One week change: - 0.20%
  • One month change: -7.56%
  • Six month change: 17.99%
  • One year change: 71.19%

US Natural Gas

  • Day range: 4.997 – 5.13 USD
  • 52 week range: 2.26 – 6.37 USD
  • One week change: 3.06%
  • One month change: -14.34%
  • Six month change: 69.87%
  • One year change: 74.45%


Three month percentage change in pricesThree month % change – Credit: Koyfin

Read more: Goldman Sachs: Oil lower due to ‘excessive wall of worries’

Markets in this article

Oil - Brent
Brent Oil
75.983 USD
1.511 +2.030%
Oil - Crude
Crude Oil
71.410 USD
1.62 +2.320%
Natural Gas
Natural Gas
2.5235 USD
-0.0115 -0.450%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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