Created
: 2025.05.20
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
Crude Oil price today: WTI price bearish at European opening
World FX news
Breaking news
Crude Oil price today: WTI price bearish at European opening
New
2025.05.20 15:08
2025.05.20 15:08
2025.05.20 15:08
West Texas Intermediate (WTI) Oil price falls on Tuesday, early in the European session. WTI trades at $61.85 per barrel, down from Monday's close at $62.09.
Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $64.77 after its previous daily close at $65.01.
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as "light" and "sweet" because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. 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.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
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. 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.
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. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
Last updated
: 2025.05.20
Related articles
EU wants to propose lowering the price cap for Russian Oil - Commerzbank
2025.05.20 19:31The rise of e-mobility is increasingly dampening global oil demand - Commerzbank
2025.05.20 19:24China's crude Oil processing weak in April - Commerzbank
2025.05.20 19:18Natural Gas drops over 6% - ING
2025.05.20 18:29Oil: Chinese oil demand falls - ING
2025.05.20 17:57WTI hovers around $62.00, downside appears due to Russia-Ukraine peace talks
2025.05.20 16:16
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
GBP flat against USD ahead of CPI Wednesday - Scotiabank
Pound Sterling (GBP) is also entering Tuesday's NA session unchanged against the US Dollar (USD) and stuck within a flat channel at the upper end of its longer-term range, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
2025.05.20 21:43EUR steady despite continued dovishness from ECB - Scotiabank
Euro (EUR) is entering Tuesday's NA session largely unchanged vs. the USD while trading with modest support over the past week or so, ignoring continued dovish messaging from key policymakers at the ECB, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
2025.05.20 21:36CAD holds trading range around 1.3950 ahead of CPI - Scotiabank
The Canadian Dollar (CAD) continues to pivot around the mid-1.39 point as investors await signs on how US/Canada trade relations are going to evolve and the impact that will have on Canada's domestic prospects, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
2025.05.20 21:34Australia: A cut and a dovish surprise - Standard Chartered
The Reserve Bank of Australia (RBA) cut the cash rate by 25bps to 3.85%, as we had expected. The policy statement and Governor Bullock's subsequent press conference both screened as dovish.
New
2025.05.20 21:32USD edges lower, broader sentiment softens - Scotiabank
The US Dollar (USD) is trading marginally softer on the session. Trade is relatively quiet on the face of it, with the North American holiday schedule (Memorial Day next Monday) after Canada's day off yesterday perhaps affecting participation, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
2025.05.20 21:29AUD/USD retreats as RBA delivers expected rate cut, signals limited easing ahead
The Australian Dollar (AUD) inches lower to 0.6415 against the US Dollar (USD) on Tuesday, attempting to stabilize near the previous day's low.
New
2025.05.20 20:52US Dollar tests weekly low as US debt downgrade continues to weigh
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is slipping lower for a second consecutive day on Tuesday as markets continue to digest the recent downgrade of the rating in US debt, which led to a rollercoaster in US bond markets.
New
2025.05.20 20:52Mexican Peso hits fresh YTD high against the Greenback
The Mexican Peso (MXN) is strengthening against the US Dollar (USD) and hits a fresh year-to-date high on Tuesday as markets turn cautious ahead of Wednesday's House vote on President Trump's "One Big Beautiful Bill."
New
2025.05.20 20:49USD/JPY finds temporary support near 144.00, US-Japan trade talks in focus
The USD/JPY pair gauges ground near 144.00 during European trading hours on Tuesday, but is still down 0.2% near 144.50. The pair attracts bids as the US Dollar (USD) rebounds after revisiting the weekly low, which it posted on Monday.
New
2025.05.20 19:57ECB's Knot: Inflation outlook too uncertain to say whether we need a rate cut in June
European Central Bank Governing Council member Klaas Knot said on Tuesday that the medium-term inflation outlook is too uncertain to say whether the ECB needs to cut key rates again in June, per Reuters.
New
2025.05.20 19:50Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
