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.

Exactly one month ago, Brent crude oil’s spot price was at $60.34 per barrel. Compared to today’s price of $64.93 per barrel, the price is up 7.61%. Welcome to browse the page of WTI Crude Oil Price which shows the current WTI crude oil price and its fluctuation width, previous close price and open price, etc. 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 Brent/WTI spread has historically ranged between $4/bbl and $8/bbl, but it can expand or contract based on factors related to U.S. and international supply and demand conditions.

• Oil futures are traded on commodities exchanges, such as the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE).
• Brent futures traded at $71.12/bbl, a drop of 0.21% in the last 24 hours.
• News & World Report, where she oversaw multiple verticals including advisors, brokers and investing.
• WTI and Brent futures contracts each represent 1,000 barrels of oil per contract.
• West Texas Intermediate prices have drifted lower in 2024, but prices are down 7.27% over the past three years.
• For the purposes of trading on futures exchanges in London or New York, however, reference oils are used.

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 alpari forex broker review 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.

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 npbfx forex broker 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.

Brent crude futures

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.

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 dowmarkets 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.

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 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.

$60 Oil Puts Big Oil’s Record Payouts at Risk

Everything you wanted to know about commodity trading. A sector once viewed as a classic Trump trade has been left behind by investors this year, but there are several reasons it could soon rally, BofA said.

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.

US traders welcome at these brokers:

Brent futures fell by 0.21% to $71.12/bbl, as of 9 a.m. WTI futures rose by 0.18% to $67.67/bbl, as of 9 a.m. Select automatic updates to the data or a static time frame. SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you’re a beginner or an expert, find the right partner to navigate the dynamic Forex market.

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.

Supply and Demand

• WTI crude oil also opened 2021 with an uptrend at $48.27 per barrel.
• Saudi Arabia’s state-owned oil company, Saudi Aramco, uses the Dubai/Oman crude oil benchmark when pricing its oil for delivery to Asia.
• That “Miracle on the Hudson” coverage won many breaking news awards.
• Crude oil is by far the world’s most important energy source and the price of oil therefore plays an important role in industrial and economic development.

Finally, the Organization of the Petroleum Exporting Countries can significantly alter global crude oil supplies by increasing or cutting production. The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices.

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.

Key data points

That’s up by 2.58% from the price of $60.92 per barrel one week 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.

For example, the Brent/WTI spread hit nearly $14/bbl in April 2011 when protests sparked market fears of significant oil supply disruptions in the Middle East. Read on to learn more about the live crude oil price you see historically, or on active trading days. Crude oil is one of the most important commodities in the world, serving as a key energy source and as a raw material used to produce plastics, chemicals and other products. Nearly all the crude oil imported or produced in the U.S. is refined into petroleum products, including gasoline, diesel fuel and heating oil. Blueprint is an independent, advertising-supported comparison service focused on helping readers make smarter decisions.

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.