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Crude Oil price is considered as the benchmark for oil produced mainly in the US region. It also comprises the shale segment of American oil production that has greatly swayed the balance of oil production in favor of USA over the past few years. Due to the shale boom, America is well poised to become the world's largest producer, surpassing both Russia and Saudi Arabia. Crude prices are highly sensitive to the US Crude inventory data issued on Tue and Wed of each week. The weekly Oil Rig Count data, released by Baker Hughes on each Fri, is also closely watched by speculators to ascertain the extent of shale production over USA and Canada. Crude prices are also very sensitive to imminent supply disruptions caused by military and political unrest in some of the largest oil producing nations. Crude can be traded in the following 3 contract sizes:-
1 Barrel of Crude Oil is approximatey equal to 159 Litres.