The oil market is experiencing the highest volatility of all time, as the world continues to struggle with the pandemic of the Covid-19. For this reason, the people of SimpleFX conducted a study of the behavior of the oil market, which we will share in this occasion. Recalling that, from the beginning of the year, the crude oil is in a recession and worsened as nations implemented blockades and travel restrictions. There was more oil storage space, affecting critically the world price of crude oil. Contracts of crude oil futures WTI crude may drop to -$ 40.32 per barrel for the first time, a historic drop in prices of 321%. As economies recover, oil prices seem to be on a roller coaster. USOIL began to rise on Tuesday as a positive response to the new crop of Saudi Arabia in oil production to support the global markets in difficulties. The production of oil of the kingdom will be reduced by 40% with a cut of one million barrels per day from June. Cuts in oil production and quarantine measures are relaxed, all contribute to the demand for oil will slowly recover. Do you approach the market to balance in the coming months? Price of the CFD crude oil WTI NYMEX from January 2020. Source: SimpleFX WebTrader
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Current market situation of oil parallel to the Covid-19
The fluctuations of current in the price of oil within the market have great prospects of gain to the merchants in the midst of the pandemic of Covid-19. Take advantage of the volatility to market Trading of raw materials in global markets. It is not necessary to possess the physical asset itself. To predict the price changes of USOIL, UKOIL, and other assets and collect the income 24/7 in the comfort of your home using your computer or mobile device, by using the right platform. SimpleFX is a commercial application award-winning that allows you to buy and sell contracts in wide variants of assets, including crude oil and natural gas. There are three assets available: USOIL (WTI Crude Oil), UKOIL (Brent Crude Oil) and natural gas. USOIL and UKOIL are important assets in today because that experience extreme volatility. Commodities in SimpleFX WebTrader
On SimpleFX
Online trading with CFDs allows virtually any person to exchange assets and to win in home. It is the perfect way of generating profit in the midst of the fright of COVID-19. To start trading, open an account with SimpleFX with your email address. It does not require a minimum deposit, so that you can start trading even with $ 10. The best part is that you can operate with leverage of up to 500x. This means that with your $ 10, you can buy or sell oil contracts for a value of $ 5,000. It provides a demo account so that you can get an idea of the business process first. Not all brokers offer this feature. With a demo account, you can use funds dummy to practice the trade and simulate strategies without any risk. When you feel safe, you simply deposit any amount and start trading live. SimpleFX have a rewards program multilevel. Get up to 25% of revenue share with each affiliate that recommends. When your affiliate makes an exchange, you get additional profits. In addition, when the reference of your affiliate makes a trade, earn another 5% of revenue share. Prepare new sets of banners for affiliates that you can share to expand their circle of affiliates, including such topics as the market for oil or cryptocurrencies. Now is the perfect time to jump. SimpleFX soon be held on the Day of the Pizza Bitcoin, with cash rebates of 50%. Traders will enjoy margins of 50% lower in all orders placed on the 22nd of may, it’s a great opportunity to trade! Apply the terms and conditions. Tell your friends and followers using the new banners on the Day of the Pizza Bitcoin, and you receive more rewards. Generate unlimited earnings, with either oil or Bitcoin. I sign up today and start trading!