This lesson steps back from the mechanics of trading to the macro forces that move energy prices over months and years. Earlier lessons looked at sources, markets, participants, instruments, and the physical commodity complex; this one is the backdrop they all sit against. We cover the global economic indicators that shape energy demand and investment (growth, interest rates, inflation, and exchange rates), the geopolitical forces that move supply and price, and the supply and demand dynamics that pull it all together, with a worked example on how the dollar feeds straight into the price of oil for the rest of the world. As the closing lesson of the course, it also ties the macro picture back to everything you have learned, because a trader who can connect a headline to a price is the one who anticipates the market rather than reacting to it.
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