Crude Oil Price: Understanding the Factors and Trends
Crude oil, one of the most vital resources in the global economy, plays a central role in shaping the cost of energy, transportation, and manufacturing goods. The price of crude oil influences everything from gas prices at the pump to the cost of heating homes and operating factories. In this article, we’ll explore what drives the price of crude oil, the key factors that influence its fluctuations, and how its price affects global markets. What is Crude Oil? Crude oil is a naturally occurring, unrefined petroleum product that is extracted from the earth. It is a mixture of hydrocarbons (organic … Read more