Select Language

Crude Oil price today: WTI price bearish at European opening

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

World FX news

search
Breaking news

Crude Oil price today: WTI price bearish at European opening

  • X
  • facebook
  • LINE
  • RSS
  • X
  • facebook
  • LINE
  • RSS
New update 2025.06.05 15:04
Crude Oil price today: WTI price bearish at European opening

update 2025.06.05 15:04

West Texas Intermediate (WTI) Oil price falls on Thursday, early in the European session. WTI trades at $62.07 per barrel, down from Wednesday's close at $62.16.

Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $64.58 after its previous daily close at $64.67.

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.

Date

Created

 : 2025.06.05

Update

Last updated

 : 2025.06.05

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

German Factory Orders rise 0.6% MoM in April vs. -1% expected

Next article

EUR/GBP holds steady below 0.8450 ahead of ECB rate decision

prev

Most viewed

US Pres. Trump: Borrowing costs should be much lower

United States (US) President Donald Trump took to social media to call upon Federal Reserve (Fed) Chairman Jerome Powell to lower interest rates on Friday.
New
update2025.06.06 23:16

Silver smashes $35 in Asia futures breakout - TDS

Like a thief in the night, Silver prices broke through $35/oz. Last time Silver broke this range, it took roughly 6 weeks to trade $50/oz, TDS' Senior Commodity Strategist Daniel Ghali notes.
New
update2025.06.06 23:05

Chinese SHFE Gold traders hit record-high positioning - TDS

Despite muted ETF flows and flat Western macro participation, positioning data shows Chinese Gold speculators pushing SHFE Gold to record highs, setting the stage for a potentially range-bound market -- with several bullish catalysts looming, TDS' Senior Commodity Strategist Daniel Ghali notes.
New
update2025.06.06 22:54

EUR/USD retreats below 1.1400 after US NFP data

Following a quiet beginning to the European session, EUR/USD turned south in the second half of the day and declined below 1.1400. At the time of press, EUR/USD was down 0.55% on the day at 1.1382.
New
update2025.06.06 22:49

GBP/JPY Price Forecast: Bullish momentum builds after rising above 195.00

The Japanese Yen (JPY) continues to weaken against the British Pound (GBP) on Friday, with the GBP/JPY pair edging up to near 195.20 at the time of writing. 
New
update2025.06.06 22:09

USD/INR slips as RBI delivers surprise 50 bps interest-rate cut, markets cheer dovish pivot

The Indian Rupee (INR) strengthens slightly against the United States Dollar (USD) on Friday, despite a surprise 50-basis-point (bps) interest-rate cut by the Reserve Bank of India (RBI).
New
update2025.06.06 21:17

Gold treads water with US NFP and US-China trade talks in focus

Gold (XAU/USD) has fallen back into a narrow range of consolidation on Friday, trading around $3,363 at the time of writing and with Investors remaining on high alert ahead of the Nonfarm Payrolls (NFP) report release.
New
update2025.06.06 21:13

IEA expects rising investments in low-emission energies, decline in Oil investments - Commerzbank

The International Energy Agency published a report on investments in the energy sector yesterday, Commerzbank's commodity analyst Carsten Fritsch notes.
New
update2025.06.06 20:57

JPY is underperforming on the day - Scotiabank

Japanese Yen (JPY) is down 0.4% vs. the US Dollar (USD) and underperforming all of the G10 currencies in an environment of modest USD strength.
New
update2025.06.06 20:55

GBP down modestly from Thursday's multi-year high - Scotiabank

Pound Sterling (GBP) is also down 0.2% vs. the US Dollar (USD) with a modest pullback from Thursday's fresh multi-year high, Scotiabank's Chief FX Strategist Shaun Osborne notes.
New
update2025.06.06 20:52

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