International Crude Oil Price Inquiry [Real-time]

Tool Introduction

"International Crude Oil Price Inquiry [Real-time]" is a powerful online tool designed to help users obtain real-time market prices and related market data for major global crude oil varieties. With this tool, you can enter a short crude oil code (e.g., 'wti') to quickly query the latest prices, change rates, opening prices, high prices, low prices, yesterday's settlement prices, and open interest for international crude oils such as West Texas Intermediate (WTI) and Brent crude oil. This helps you stay informed about international oil price trends and provides strong support for investment decisions or market analysis.

How to Use

1. Enter Parameters:
   • Find the input box labeled "Crude Oil Code".
   • Fill in the crude oil code you wish to query in the input box. For example, enter wti to query West Texas Intermediate (WTI), or enter brent to query Brent crude oil.
   • "Crude Oil Code" is a required field. If left blank, the system will default to querying wti price information.
2. Execute Query:

   After filling in, the system will automatically or immediately retrieve and display real-time data after you click the query button.

3. View Results:

   The query results will be displayed in a clear list or table format, containing detailed real-time market data for the crude oil.

Output Result Format Description:
The tool will return a list containing multiple data items, each corresponding to a specific crude oil indicator, including:

• Crude Oil Name: The full name of the queried crude oil.
• Current Price: The latest transaction price, in USD/barrel.
• Change Amount: The specific increase or decrease amount compared to yesterday's settlement price.
• Change Rate: The percentage increase or decrease compared to yesterday's settlement price.
• Today's Opening Price: The price at which the market opened today.
• Today's High Price: The highest price reached during today's market trading.
• Today's Low Price: The lowest price reached during today's market trading.
• Yesterday's Settlement Price: The final settlement price at market close yesterday.
• Open Interest: The current open interest, in thousand barrels.
• Release Time: The latest time the data was updated.

Frequently Asked Questions

• Q: Which international crude oil varieties are supported for inquiry?
• A: This tool primarily supports querying mainstream global international crude oil varieties, such as West Texas Intermediate (WTI) and Brent crude oil (BRENT). You can query by entering the corresponding crude oil code.
• Q: How is the real-time nature of the data guaranteed?
• A: This tool aims to provide [real-time] inquiry services. Prices are usually updated quickly based on real-time fluctuations in the global crude oil market, striving to present instant data that is closest to market transactions.
• Q: What does "Open Interest" in the output result mean?
• A: "Open Interest" refers to the total number of contracts that have not yet been closed out in the futures market, in thousand barrels. It is an important indicator for measuring market activity and future price expectations, reflecting the balance of power between buyers and sellers in the market.

Important Notes

• Please ensure you enter the correct "Crude Oil Code", such as wti or brent, to get accurate query results. If an incorrect or unsupported code is entered, valid data may not be obtained.
• International crude oil market prices fluctuate sharply. The [real-time] price data provided by this tool is for reference only and should not be used as the sole basis for investment decisions. Before making any investment, please conduct a comprehensive market analysis and risk assessment.
• The data release time will show the latest update time, but there may be a slight delay due to network transmission or other factors.

Overview of the International Crude Oil Market

The international crude oil market is a vital component of the global commodity market, and its price fluctuations have a profound impact on the global economy. Currently, there are two major benchmark crude oils in the world: West Texas Intermediate (WTI) and Brent crude oil. WTI is the primary crude oil pricing benchmark in North America, and its price typically reflects the supply and demand situation for crude oil in the United States. Brent crude oil, on the other hand, serves as the pricing benchmark for over two-thirds of global spot crude oil contracts, particularly in the Middle East, Africa, and European markets. Understanding the real-time prices and trends of these benchmark crude oils is crucial for investors, analysts, and anyone interested in the energy market.

Factors Affecting International Oil Prices

International crude oil prices are influenced by a variety of complex factors, which collectively lead to price fluctuations. The main influencing factors include:

• Supply and Demand Relationship: Changes in global crude oil production (such as OPEC+'s decisions on production cuts or increases) and consumption demand (influenced by economic growth, seasonal factors, new energy development, etc.) are the most fundamental factors determining oil prices.
• Geopolitical Risks: Political instability, conflicts, or sanctions in major oil-producing regions such as the Middle East and Russia can lead to supply disruptions, thereby pushing up oil prices.
• US Dollar Exchange Rate: Crude oil is typically priced in US dollars. A stronger US dollar usually makes crude oil more expensive for holders of other currencies, thereby suppressing demand; and vice versa.
• Crude Oil Inventory Data: Weekly inventory reports released by agencies such as the U.S. Energy Information Administration (EIA) are a focus of market attention. Increases or decreases in inventory reflect the supply and demand balance.
• Speculative Activities: The trading behavior of speculators in financial markets, such as large-scale buying or selling of crude oil futures, can also have a significant impact on short-term oil prices.