In the table below you can see the Oil Live Price and the historical price chart as offered by Plus500.com.
Oil Price is one of most common google searches, so this Live Financial Chart should be what you are looking for!
The price bellow is not the exact real price, it a CFD price offered by Plus500.com really close to the market actual price. Plus500 is a highly recommended CFD Trading Broker in Europe, Asia, Australia, New Zealand.
If you want to take advantage from the price volatility of Oil you can start trading CFD Oil in Plus500.
Plus500 CFD Oil Price Today Live
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Τhe most famous among liquid hydrocarbons is Oil, which is the main source of energy worldwide. Petroleum or Oil is known to be the Black Gold. What is Gold for metals in Petroleum in liquid hydrocarbons.
In the middle of the 19th century, oil exploitation began. The main reason was to meet the high demand for cheap fuel. Whale oil was very expensive and the available quantity could not meet the demand. In 1859, after two years of failed searches, an important oil field was discovered at a depth of about 21 meters, in Titusville (Pennsylvania).
A 1.5 year after the first successful drilling, there have been 75 other succesful drilling rigs in the region. That was it!
Titusville has become the center of US Oil. Nearly six years after the first successful drilling, a young owner of a small oil trading company came to the area in 1865 and bought the largest Pennsylvania refinery for $ 72.500.
It was John D. Rockefeller (Rockefeller, 1839-1937). After several business moves, Rockefeller co-founded the Standard Oil Company with his close friend and partner H. Flagler (1830-1913) in 1870. Standard Oil became a US monopoly company in 1872, controlling the extraction, transportation, refining and distribution of oil in Cleveland and New York. In 1879, Rockefeller controlled 90% of the refined oil in the United States.
In Europe, oil demand was largely met by imports from the United States. M. Samuel founded the Shell Company in London, Nobel Brothers and A. Rothschild drilled and set up refineries in Baku (Azerbaijan) and the Royal Dutch Company took over the oil fields in Indonesia. Another company set up to exploit the Texan fields was Texas Fuel. was later renamed Texas Company and finally Texaco.
The spread of the use of oil came with mass production of gasoline-powered cars. The invention of the gasoline engine by Daimler and Benz in 1885 revolutionized the use of petroleum products as car fuel. The change in market data was the main reason for the development of new technologies that would produce extra gasoline using heavy fractions. The story of the eponymous seven brothers – as the biggest oil companies were called – begins in the early 20th century, when the US Supreme Court ordered the “breaking” of Standard Oil in 34 companies.
Six of the seven companies are direct “descendants” of Standard Oil Company. The seven Incorporations, Exxon, Mobil, Chevron, Texaco, Gulf, BP and Royal Dutch / Shell, were the largest oil companies. Their income from the exploitation of black gold was huge. Indicatively, their profits from oil extraction and trade from the Middle East alone were $ 1.2 billion in 1972.
Types of Oils
Crude Oil is exploited from our deep planet, but the US Oil is not the same like the Venezuelan Oil. Crude Oil chemical profile differs from country to country. Crude Oil is the base for many products. After exploitation, Crude Oil moves to the refineries to produce Oil products we use everyday:
- LPG (Liquified Petroleum Gas), which is a fuel for cars.
- Kerosene – used especially as aiplains’ fuel
- Diesel – Used as vehicle’s fuel and a heating fuel in the buildings
- Mazut – Heavy, low quality fuel Oil
In the crude oil industry, there are crude oil names (WTI Oil, Brent Blend Oil etc) and there are types of crude oil (such as light, heavy, sweet and sour). Light oil is low density, while heavy oil is higher density. Sweet oil has less sulfur content, on the other hand sour oil has too much sulfur. The global market prefers light, sweet crude oil, mainly because it requires less refining and production time before it is ready to be marketed. Here are some Famous Oils:
- WTI Oil: It is the most known type of Crude Oil worldwide, used as a benchmark in oil pricing. West Texas Intermediate (WTI) is a high-quality, sweet, light oil. It also called Texas Light Sweet, American Crude or US Crude.
- Brent Oil: Brent Crude (also known as Brent Blend, London Brent and Brent petroleum) is the second most famous grade of Oil. Brent Oil is is extracted from the North Sea (between UK and Norway) and is generally more expensive than WTI Oil. If you are interested in Brent Oil Trading check here its Live Price.
- Canadian Oil: 95 % of Canadian Oil Reserves are mostly found in the North Part of Alberta. There is a huge area (1,4 million km²) called Western Canadian Sedimentary Basin that is considered to have all the Canadian Oil. Petroleum in Canada is producted from Oil Sands (Bituminous Sands). Oil Sands are an extra Heavy Crude Oil and are considered to be the dirtiest source of oil on Earth. Western Canadian Select is grade of Canadian Crude Oil. Note that Canada is the third largest producer and second largest exporter of Natural Gas worldwide.
- Venezoula Oil: Venezouelan Petroleum is mostly found in the Orinoco Petroleum Belt, an area around Orinoco River, and in the area of Maracaibo. Venezouelan Oil is not produced from Oil Sands, although it is an extra heavy (lower quality) crude Oil. Venezuela is the country with the largest oil reserves Worldwide.
- Other types of Oil: Dubai Crude, Tapis crude (Malaisian Oil),Bonny Light (Nigerian High Quality Oil with high demand in US & European Refineries), Urals Oil (Russian), Saharan Blend (Algerian Oil), Arab Light (Saudi Arabian Oil).
How to invest in oil with little money?? (Step by Step)
Trade oil through CFD is a great option if you want to invest in oil with little money and without buying actual Oil barrels.
- Sign up to Plus500 (Not for American and Canadian Citzens)
- Deposit 100$
- Start CFD Oil Trading Online. Use leverage up to 20:1
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