The forex market is a 24-hour market, and traders can buy or sell currencies at any time during the week. However, different trading sessions around the world have different trading hours, and the closing of one market can impact the price movements of another market. As for US oil, it is an important commodity that is traded in the forex market. In this article, we will discuss when does US oil close in forex.
Firstly, let’s understand the basics of the forex market. The forex market is decentralized, which means that there is no central exchange where currencies are traded. Instead, traders can buy or sell currencies through electronic networks or over-the-counter (OTC) markets. The forex market is open 24 hours a day from Sunday evening (eastern time) to Friday evening (eastern time). However, the trading hours vary depending on the trading sessions in different parts of the world.
The forex market is divided into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. Each session has its own opening and closing hours, and the trading volume and volatility can vary depending on the session.
When it comes to US oil, it is an important commodity that is traded in the forex market. The price of US oil can be impacted by many factors, such as supply and demand, geopolitical events, and economic indicators. Therefore, it is important for traders to know when US oil closes in the forex market.
US oil is traded on the New York Mercantile Exchange (NYMEX), which is a commodity futures exchange that is part of the CME Group. The NYMEX is open from Sunday evening to Friday evening (eastern time). However, the trading hours for US oil contracts can vary depending on the type of contract and the month of delivery.
The most actively traded US oil contract is the West Texas Intermediate (WTI) crude oil contract, which is traded on the NYMEX under the symbol CL. The trading hours for the WTI crude oil contract are from Sunday evening at 6:00 PM (eastern time) to Friday evening at 5:00 PM (eastern time). However, there is a break in trading between 5:00 PM and 6:00 PM (eastern time) every day.
It is important to note that the trading hours for US oil contracts can change during holidays or special events. Therefore, traders should always check the trading hours on the NYMEX website or their trading platform before placing any trades.
In conclusion, US oil is an important commodity that is traded in the forex market. The trading hours for US oil contracts on the NYMEX are from Sunday evening at 6:00 PM (eastern time) to Friday evening at 5:00 PM (eastern time), with a break in trading between 5:00 PM and 6:00 PM (eastern time) every day. Traders should always check the trading hours on the NYMEX website or their trading platform to keep updated with any changes in trading hours or holidays. Understanding the trading hours for US oil can help traders make informed trading decisions and manage their risk effectively.
