Crude oil
Oil as it comes out of the ground, before it is made into gas and other fuels.
In the news
How “crude oil” came up in recent issues.
- Oct 26Oil jumps and stocks slide: what it means for gas money
“U.S. crude oil climbed to about $103 a barrel, and Brent, the world benchmark, settled at $116.72, its highest since April.”
Related words
- Commodity
- A basic raw material, like oil, wheat or copper, that is bought and sold in large amounts. Its price moves with supply and demand.
- Demand
- How much of something people want to buy at each price. When the price goes up, people usually buy less.
- Dow Jones Industrial Average
- A stock market index that tracks 30 large U.S. companies.
- Federal Reserve
- The U.S. central bank, often called the Fed. It raises or lowers a key interest rate to keep prices stable and jobs plentiful.
- Interest
- The price of borrowing money. Borrowers pay it, and savers earn it.
- Interest rate
- Interest shown as a percent of the amount borrowed or saved, usually per year.
Test yourself in Word sprint · All money words
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