|Symbors||Products||Leverage||Open Time||Close Time||Time Zone|
|XAUUSD||Gold||1:100||Monday 01:00||Friday 00:00||London|
|XAGUSD||Silver||1:100||Monday 01:00||Friday 00:00||London|
|BRENT||Brent Crude Oil||1:100||Monday 01:00||Friday 23:00||London|
|WTI||WTI Crude Oil||1:100||Monday 17:00||Friday 16:00||Chicago|
What influences the prices of commodities?
- The price of the US Dollar
Since commodities are priced in US Dollars, the fluctuation of the USD has a direct effect on the trading price of commodities such as oil, gas, coffee and soy beans.
- Natural disasters
Extreme weather conditions, such as hurricanes, tsunamis and earthquakes, can have a dramatic effect on the prices of commodities.
- Geopolitical events
International diplomacy, civil disruptions and exchange rate fluctuations can increase volatility in the oil and gas markets substantially.
- OPEC’s production targets
The Organization of the Petroleum Exporting Countries is comprised of 14 nations. OPEC sets production targets for its members in order to regulate the supply. As a rule of thumb, when production targets are reduced, the price of oil rises.