PAGE Blog Business Weekly Magazine
Crude oil determines inflation and also determines the GDP of an oil exporting nation. In more advance economics as discussed earlier, oil is used for investments i.e. trading of commodity futures. Irrespective of the current market price, futures are locked at a higher price being traded on the New York Mercantile Exchange (or NYMEX), as well as the International Petroleum Exchange. Speculation that who trade large volumes can easily …
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