Select Language

Crude Oil price today: WTI price bullish at European opening

blockHeadVisual
  1. HOME
  2. Get information
  3. World FX news
  4. Crude Oil price today: WTI price bullish at European opening

World FX news

search
Breaking news

Crude Oil price today: WTI price bullish at European opening

  • X
  • facebook
  • LINE
  • RSS
  • X
  • facebook
  • LINE
  • RSS
New update 2025.03.18 18:35
Crude Oil price today: WTI price bullish at European opening

update 2025.03.18 18:35

West Texas Intermediate (WTI) Oil price advances on Tuesday, early in the European session. WTI trades at $68.22 per barrel, up from Monday's close at $67.26.

Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $70.66 price posted on Monday, and trading at $71.59.

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.

Disclaimer: West Texas Intermediate (WTI) and Brent oil prices mentioned above are based on FXStreet data feed for Contracts for Differences (CFDs).

(An automation tool was used in creating this post.)

Date

Created

 : 2025.03.18

Update

Last updated

 : 2025.03.18

Related articles

Show more

Writer

FXStreet

Financial media

arrow
FXStreet

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?
No loading Yes loading

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.

Previous article

prev

Palladium price today: Rare metals advance at the start of the European session

Next article

USD/CAD: Further uptrend above 1.4550 - Société Générale

prev

Most viewed

US Dollar drops to a near five-month low on geopolitical turmoil

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, dips lower again and trades pressured around 103.25 at the time of writing on Tuesday, near a five-month low at levels not seen since October.
New
update2025.03.18 20:43

NZD/USD Price Forecast: Trades firmly near three-month high of 0.5820

The NZD/USD pair holds significant Monday's gains near 0.5820 in European trading hours on Tuesday.
New
update2025.03.18 20:25

UK news may help EUR/GBP hold below the March high around 0.8495 - Rabobank

Today is expected to mark an extraordinary day for Germany.
New
update2025.03.18 20:08

CHF: Limited space for SNB easing - Danske Bank

The big event for CHF this week is the SNB meeting on Thursday, Danske Bank's FX analyst Jens Nærvig Pedersen reports.
New
update2025.03.18 19:59

USD/CNH: Expected to trade between 7.2200 and 7.2430 - UOB Group

US Dollar (USD) is expected to trade between 7.2200 and 7.2430 vs Chinese Yuan (CNH).
New
update2025.03.18 19:55

USD/JPY to stay bearish on a strategic horizon - Danske Bank

Amid risk-on sentiment yesterday USD/JPY traded above 149 yesterday, Danske Bank's FX analyst Jens Nærvig Pedersen reports.
New
update2025.03.18 19:51

ECB's Rehn: Can either cut or pause in April, depending on data

European Central Bank (ECB) policymaker Olli Rehn said on Tuesday that the central bank "can either cut or pause in April, depending on data." Additional quotes The effect of increased defence spending would only likely be over the medium term.
New
update2025.03.18 19:07

Silver Price Forecast: XAG/USD refreshes four-month high around $34 ahead of Fed's policy decision

Silver price (XAG/USD) posts a fresh four-month high near $34.10 in European trading hours on Tuesday.
New
update2025.03.18 19:04

German ZEW Economic Sentiment Index leaps to 51.6 in March vs. 48.1 expected

The headline German ZEW Economic Sentiment Index jumped to 51.6 in March from 26 in February, beating the market forecast of 48.1 by a wide margin.
New
update2025.03.18 19:02

Gold prints new all-time high on Israeli strikes across Gaza, ahead of Trump-Putin phone call

Gold's price (XAU/USD) pops higher again and reaches a fresh all-time high currently at $3,028 on Tuesday.
New
update2025.03.18 18:54

Disclaimer:arw

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.

arw
  • Facebook
  • Twitter
  • LINE

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

I agree
share
Share
Line

Line
Facebook

Facebook
X

Twitter
Cancel