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A strategic commodity is considered to be very important. This is a resource that is important to a country that a country will go to any extent to ensure its consistent supply. A good example is oil which is used in every industry that you can think of.
Wiki User
∙ 10y ago
Wiki User
∙ 12y agoOil is used in all over the world and the consumption of oil on daily is too much greater then other products so it is a strategic commodity. And the prices are increases and decreases according to demand and supply.
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Is oil a commodity?
Yes oil is a commodity....
Which is the largest commodity exchange for commodity market?
Oil is that commodity.
Can I buy and sell crude oil like stocks?
Yes. That is called Commodity trading. Oil is a commodity and is traded in the commodities market.
A strategic commodity is what?
•A resource so important that nations will go to war to ensure its steady supply.
What inventions made oil such a valuable commodity?
Oil has many uses.
What is the role of oil in economies of the countries in southwest Asia?
oil is there chief commodity
What is the name given to a resource that is so valuable that nations will go to war to ensure its steady supply?
strategic commodity
What is an example of a commodity?
Wheat, rice, oil are commodities.
What commodity caused the power in the middle East to shift?
Oil.
Much of the economic growth of Texas is based on which commodity?
Oil
What is the most used commodity in the US besides oil?
Gas
In the US oil is considered what?
Not sure exactly what the question means, but oil is considered a commodity.
