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Commodity profile - M.E.Sour Crude Oil
Latin Name
General characterstics
Sour crude oil contains the impurities of hydrogen sulfide (H2S) and carbon dioxide, or mercaptans. All crude oil contains some impurities. When the total sulfide level in the oil is 1 % the oil is called ?sour?.
1.Crude oil is also used as the raw material for many chemical products, including solvents, fertilizers, pesticides, and plastics industries.
2.The crude oil is used as fuel for transport, like petrol, grease that is turned into candle wax and bitumen for road surfaces and useful chemicals.
Market moving factor
1.Crude oil price fluctuates depends on OPEC output and supply
2.Crude oil prices are also influenced by terrorism, weather/storms, war and any other unforeseen geopolitical factors that cause supply disruptions.
3.Global demand for oil and currency fluctuations has significant influence on crude oil prices.
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