Oil is a substance that is used for power and energy in order to run all the machines that we humans use. It is normally referred to as petroleum. It is important for consumers because they depend on oil for everyday activities. Naturally, companies also need oil to run their machinery and keep up production.
Consumer confidence is an economic indicator that measures the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation. When consumer confidence is high, consumers make more purchases.
The suggested price at which a currency can be bought (“Ask” price).
The National Futures Association (NFA) watches over the commodities and futures markets in the United States.