Correct Way to calculate Crude OIL Price

narangji

Well-Known Member
#1
Hi All

I have been trying to find out the correct and most simplest way to find out the price of crude OIL, to my surprise most people don't think its relevant. However I still feel it would not hurt to gain any extra knowledge. So after posting multiple threads on trader ji, whatever formula was shared was complex or did not give the correct result.

So I ended up calling my broker and MCX directly to find out the secret formula.


So I would like to share with you guys today.

Formula is very simple

Current price of Crude in USD * Current Price in $

Catch22 situation here : India follows WTI Crude OIL and not crude oil available on investing.com, if you check crude OIL price right now on investing.com it will show you 58.06 and current price of USD is 62.67


So correct formula is

WTI Crude Price * USD

Check current crude price from
http://www.bloomberg.com/energy/

Check current USD Price from
Your data provider in amibroker or metastock or ninja trader, mine is RTDS and at present showing it 62.65
PS: dont google USD TO INR (that data is delayed)

hence

56.44*62.65 =3535 (the current price as of now)

I hope this helps.

Regards
 

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