Created
: 2025.06.03
- 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
2025.06.03 15:07
2025.06.03 15:07
West Texas Intermediate (WTI) Oil price falls on Tuesday, early in the European session. WTI trades at $62.13 per barrel, down from Monday's close at $62.50.
Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $64.58 after its previous daily close at $64.95.
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
: 2025.06.03
Related articles
WTI Oil consolidates around $65.00 as the Middle East ceasefire holds
2 minutes agoGas prices are selling off - ING
31 minutes agoFocus shifts from the Middle East to tariffs - ING
36 minutes agoWTI trades with caution around $64.00 as tariff deadline approaches
2025.06.27 16:18Crude oil price today: WTI price bullish at European opening
2025.06.27 15:03WTI rises to near $75.00 as US crude inventories fell on higher demand
2025.06.27 10:21
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
JPY: Some relief from inflation - Commerzbank
Inflation in the Greater Tokyo Area, a reliable early indicator of price trends throughout Japan, rose less sharply than expected in June. Prices rose by 3.1% year-on-year, compared with a rise of 3.4% during the previous month, Commerzbank's FX analyst Volkmar Baur notes.
New
2025.06.27 20:20WTI Oil consolidates around $65.00 as the Middle East ceasefire holds
Oil prices are trading within a narrow range around $65.00 on Friday, consolidating losses, on track to their largest weekly sell-off in years, following a nearly $12 depreciation after Trump announced a truce in the Israel-Iran war.A fragile ceasefire is holding so far, and investors have shifted t
New
2025.06.27 20:18USD/JPY: Any advance is unlikely to break clearly above 145.55 - UOB Group
US Dollar (USD) could rebound further against Japanese Yen (JPY), but any advance is unlikely to break clearly above 145.55. In the longer run, USD appears to have moved into a range trading phase between 143.50 and 146.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.06.27 20:09USD: Still feeling the heat - Commerzbank
Yesterday, the EUR/USD exchange rate could soon reach 1.18 again. The Euro (EUR) promptly took off and climbed to 1.1744 against the US Dollar (USD).
New
2025.06.27 20:05NZD/USD: Likely to edge above 0.6075 - UOB Group
There is room for New Zealand Dollar (NZD) to edge above 0.6075 against US Dollar (USD); the major resistance at 0.6090 still appears to be out of reach.
New
2025.06.27 19:58Copper spreads spike again - ING
Copper spreads spiked again on the LME on Thursday. Cash contracts trading at a premium of above $319/t to three-month futures, but still down from a historic high of $379/t seen on Monday.
New
2025.06.27 19:55AUD/USD: Likely to test 0.6575 - UOB Group
There is a chance for Australian Dollar (AUD) to test 0.6575; the major resistance at 0.6595 is likely out of reach. In the longer run, there is potential for AUD to test 0.6595, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.06.27 19:52Gas prices are selling off - ING
European natural gas prices continue to sell off, with Title Transfer Facility (TTF) falling 3.89% yesterday, ING's commodity experts Ewa Manthey and Warren Patterson note.
New
2025.06.27 19:50USD: Still waiting on the data catalyst - Commerzbank
US data sent very mixed messages yesterday to a market seeking validation of recent dovish Fed speculation. 1Q GDP was revised again, showing an even bigger quarter-on-quarter annualised contraction of -0.5% compared to the previously reported -0.2%.
New
2025.06.27 19:48Focus shifts from the Middle East to tariffs - ING
Oil prices are steady following the de-escalation in the Middle East. The ceasefire between Israel and Iran continues to hold. Meanwhile, nuclear talks between the US and Iran are set to resume next week, according to comments from President Trump.
New
2025.06.27 19:45Disclaimer:
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
