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What Drives the Price of Brent Crude oil?

Brent crude oil is a lighter type of oil that is used to refine gasoline, diesel, and other high-demand products. The price per barrel depends highly on the wider global economy and the basic laws of supply and demand.

> If the supply goes down, prices will rise.

> When there is ample supply, prices will go down.

However, demand can complicate this seemingly simple equation. When there is a rise in economic development and population, it could create a need for more oil in certain areas.

Geopolitics also play a large role, since big-oil countries often have their fingers in many pies, as well as a certain agenda that they may be trying to push forward. For example, oil-rich countries in the Middle East can jack up the prices if they’re in conflict with another country who is their buyer.

Historically we can see the price trends of Brent crude oil, with news playing a big role. 

  • 2008 during the economic crash oil saw a huge spike, then a quick crash. 

  • There was a spike in price when the US invaded Iran. 

  • Trump’s sanctions on Iran increased tensions and prices.

Taking stock of world events will give you insightful pathways to better forecast how Brent crude oil price will change in the years to come.

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Commodities FAQ

To trade commodities like Brent oil, WTI oil with CFDs, below are the recommended steps.
1. Choose a trusted broker. There are plenty of brokers on the market, like MiTrade, IG, Capital. Among them, we would recommend MiTrade for its 0 commissions, low spread and flexible leverage. MiTrade is also licensed by ASIC, a world-renowned licensure used by many legitimate exchanges.
2. Enter a contract for difference: this means you will exchange the difference in price between when the trade was opened and closed.
3. Choose your leverage amount (fixed or variable) based on your goals.
4. Withdraw your winnings!

Diversification: Don’t put all your eggs in one basket! Use this to reduce your risk, but limits short-term returns.
Inflation Hedging: Use your oil investments to hedge against inflation in the future.
Speculation on commodities prices: Feeling confident? Invest in future speculation to get big winnings today.

If you are someone who can skillfully track and manage world events, while understanding the ins and outs of popular commodities like gold, silver, oil and their derivatives, then you may be able to make an attractive profit from investing in commodities. Learn what moves the commodity and you can minimize your risk.

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