By taking positions in oil futures, they can offset potential losses from adverse price movements in the physical market, providing a form of insurance against price risks. WTI and Brent oil futures can be suitable for individual investors, but they come with inherent risks. Futures trading involves leverage, meaning that a small change in the futures price can result in significant gains or losses.

West Texas Intermediate (WTI) crude oil price today

WTI futures contracts are typically settled through physical delivery. If a trader holds a contract until expiration and does not offset or roll over the position, they must provide or take delivery of the actual crude oil. Brent futures, on the other hand, can be settled financially.

What is WTI Oil?

To buy and sell crude oil futures contracts, you must open a brokerage account that offers commodity futures trading. The primary futures contracts for WTI crude oil trades on the NYMEX under CL. The primary futures contracts for Brent crude oil trades on the ICE under the symbol B. Brent crude oil prices hit their all-time high of $147.50/bbl during the oil market boom in July 2008. However, WTI futures contract prices dropped to as low as negative $40/bbl on April 20, 2020, driven largely by a lack of U.S. storage options during the COVID-19 pandemic. Brent futures contracts remained well above zero, bottoming at around $25/bbl that day.

WTI Oil Prices In US Dollar

While Brent and WTI have distinct characteristics, their prices are interconnected. Global events, supply and demand factors, and market sentiment can cause prices to converge or diverge between the two benchmarks. WTI crude oil’s spot price was at $57.23 per barrel one month ago. trust fx broker review Compared to today’s price of $62.49 per barrel, the price is up by 9.19%.

• From time to time new oil resources come online — like Canadian oil sands or US crude oil from oil shale — these add to the global supply.
• While Brent and WTI have distinct characteristics, their prices are interconnected.
• WTI Crude Oil Price is a grade of crude oil that served as a benchmark in oil pricing, therefore, it is essential to take attention to the prices of WTI crude oil.
• The difference between the spot price of Brent crude and WTI crude is called the Brent/WTI spread.
• The types of crude oil come from regions as diverse as Alaska North Lope, Arab Light or Zueitina in Libya.

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Crude Oil price today: WTI price bearish at European opening

The current price of West Texas Intermediate (WTI) crude oil today is $63.40 per barrel. Live charts, historical data, futures contracts, and breaking news on WTI prices can be found below. Today’s live Brent crude oil spot price is at $62.49 per barrel.

Brent crude fell to its 52-week low of $69.15 per barrel on Sep. 10, 2024. It reached its 52-week high of $96.62 on Sep. 27, 2023. WTI crude fell to its 52-week low of $65.56 per barrel on Sep. 10, 2024. It reached its 52-week high of $95.52 on Sep. 27, 2023. OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices.

Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information. Anyone can buy or sell popular oil stocks simply by opening and funding a standard brokerage account. West Texas Intermediate prices have drifted lower in 2024, but prices are down -2.66% over the past three years. Brent futures rose by 0.13% to $75.41/bbl, as of 9 a.m. WTI futures rose by 0.00% to $71.53/bbl, as of 9 a.m.

Brent futures traded at $71.12/bbl, a drop of 0.21% in the last 24 hours. WTI futures traded at $67.67 per barrel, as of 9 a.m. There are two main differences between WTI and Brent, the location from which they are sourced and the quality of the oil. These two factors lead to a price difference between the two termed the ‘spread’ which will python math libraries change depending on different supply/demand dynamics and geopolitical influences. WTI crude oil also opened 2021 with an uptrend at $48.27 per barrel.

• WTI crude oil and international Brent crude oil are influenced by several factors that can change the market’s supply and demand balance.
• New sources can exert a downward force on oil prices, even in times of heavy demand.
• The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
• The increased focus on renewable energy is already accelerating such changes.
• Brent Crude is a particularly light crude oil which is carried from the North Sea to the Sullom Voe Terminal on Mainland, Shetland by an underwater pipeline.

API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. WTI Oil is a type of Crude Oil sold on international markets.

Crude Oil Prices: West Texas Intermediate (WTI) – Cushing, Oklahoma (DCOILWTICO)

Brent crude is oil extracted from the Brent, Ekofisk, Forties and Oseberg oil fields. Brent has an API gravity of 38 degrees and a sulfur content of 0.4%, making it slightly heavier and less sweet than WTI. Brent is typically used as a benchmark for international oil markets, such as markets in the Middle East, Europe and Africa. WTI crude oil and international Brent crude oil are influenced by several factors that can change the market’s supply and demand balance. Yes, WTI and Brent oil futures are commonly used for hedging purposes by participants in the oil industry. Oil producers, refiners, and other market participants often utilize futures contracts to manage their exposure to price volatility.

Brent crude is a sweet, light blend of oils extracted from the North Sea near Europe. Browse news and quotes for dozens of commodity futures, or select a commodity for charting and rate data. The price of Brent crude oil is $64.93 per barrel, and the price of WTI crude oil is at $62.49 per barrel. The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. Extraction costs are typically higher for new resources, meaning these oils are only competitive in lower-supply, high-price environments.

That’s up by 2.58% from the price of $60.92 per barrel one week the signal and the noise ago. WTI crude oil trades from Sunday through to Friday, 5 PM to 4 PM CT. If you check live prices on Saturdays, you will always see the last recorded WTI crude price from the previous Friday. We also explain what oil blends are (like Brent and WTI), and ways you can speculate on live crude oil spot prices without having to buy physical barrels.

WTI crude fell to its 52-week low of $64.78 per barrel on Sep. 10, 2024. It reached its 52-week high of $91.09 on Oct. 20, 2023. Farran Powell is the managing editor of investing, retirement and banking at USA TODAY Blueprint. That “Miracle on the Hudson” coverage won many breaking news awards. News & World Report, where she oversaw multiple verticals including advisors, brokers and investing. She holds a BSc from the London School of Economics and an M.A.

It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. As with all commodities, oil prices are driven by supply and demand. However, the global pool of oil and the ease with which oil moves around the world levels some of these price pressures, and no one oil producer to completely dominate the world market.

Crude oil is extracted from underground oil reserves. In Brent crude oil’s instance, these reserves are under the seafloor, while WTI crude oil is extracted from reserves located under dry land. So the extraction process, machinery and capital required are different. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc. WTI crude is a blend of oils extracted from U.S. oilfields in Texas, North Dakota and Louisiana and is delivered to Cushing, Oklahoma.

WTI and Brent oil futures are standardized contracts traded on futures exchanges. Each contract represents a specific quantity (typically 1,000 barrels) of oil to be delivered at a specified future date. Traders can buy or sell these contracts, aiming to profit from price fluctuations. The futures price reflects market expectations for the future value of oil.