Explore metals and energy
Commodity prices connect physical supply and demand with financial markets. Metals and energy can respond to very different forces.
From physical resources to market prices
Commodity markets include resources such as metals, crude oil and natural gas. Production, consumption, storage and transport connect physical conditions with market prices.
A spot price and a futures price refer to different timing and contract arrangements. A derivative linked to a commodity is distinct from buying and storing the physical resource.
Supply and demand are not uniform
Energy demand can change with economic activity and the seasons. Inventory reports, production disruptions and transport constraints can alter the balance of supply and demand. The factors affecting one commodity may differ from those affecting another.
Check the price reference
For a commodity CFD, the contract must explain the reference price, size and any financing or rollover treatment. Leverage can magnify the effect of price moves on the margin committed. Sudden changes in supply or demand can create sharp moves and gaps.
Before choosing a product
Confirm whether the product is available for your circumstances and which entity provides it. Read its contract size, trading hours, costs, margin and execution terms. The examples on this page are an educational reference, not an available-product list.
Metals and energy
Use these examples to understand the market. Symbols are reference labels and can differ between platforms.
| Example symbol | Name | What it represents |
|---|---|---|
| XAUUSD | Gold / US Dollar | Gold expressed in US dollars. |
| XAGUSD | Silver / US Dollar | Silver expressed in US dollars. |
| USOIL | WTI Crude Oil | West Texas Intermediate, a crude oil benchmark. |
| UKOIL | Brent Crude Oil | Brent, a crude oil benchmark. |
| UKCOCOA | UK Cocoa | Cocoa, an agricultural commodity quoted in pounds sterling. |
Questions about this market
Are spot and futures prices the same?
No. Spot refers to current delivery arrangements; a futures contract refers to a future date. Timing and contract terms can make their prices differ.
Does a commodity CFD involve physical delivery?
A CFD settles a price difference under its contract. It is different from purchasing and taking delivery of the physical commodity.
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