Created
: 2025.07.08
- 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
2025.07.08 15:05
2025.07.08 15:05
West Texas Intermediate (WTI) Oil price falls on Tuesday, early in the European session. WTI trades at $66.74 per barrel, down from Monday's close at $67.02.
Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $68.93 after its previous daily close at $69.16.
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
: 2025.07.08
Related articles
OPEC+ goes with another large supply hike for September - ING
56 minutes agoWTI climbs to near $67.00 despite persistent concerns over Oil oversupply
2025.08.04 16:37Crude Oil price today: WTI price bullish at European opening
2025.08.04 15:04USD/CAD struggles near 1.3750 due to improved Oil prices
2025.08.04 12:13WTI tumbles to below $66.50 after OPEC+ agrees to another bumper output boost
2025.08.04 10:18OPEC+ agrees to boost oil production by 548K bpd for September, as expected
2025.08.04 08:14
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
USD/JPY recovery remains limited below 148.00 with hopes of Fed cuts weighing
The US Dollar is posting moderate gains against the Japanese Yen on Monday, but remains limited below the 148.00 levels, and far below Friday's highs near 151.00. Higher bets that the Fed will cut rates further in the next months are weighing on the US Dollar's recovery.
New
2025.08.04 19:25AUD/USD rises to near 0.6480 as accelerating Fed dovish bets weigh on US Dollar
The AUD/USD pair moves higher to near 0.6480 during the European trading session on Monday.
New
2025.08.04 19:16Copper drops after Trump's tariff surprise - ING
LME Copper was down 1.4%, while prices on the Comex exchange plunged more than 20% last week after President Trump's decision to exempt refined forms of the metal from fresh US import tariffs, ING's commodity experts Ewa Manthey and Warren Patterson note.
New
2025.08.04 19:01EUR/USD: Chance for EUR to test 1.1625 - UOB Group
Sharp rally appears excessive, but there is a chance for Euro (EUR) to test 1.1625 against US Dollar (USD). In the longer run, for the time being, EUR is likely to trade in a range between 1.1435 and 1.1660, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.08.04 18:57USD/JPY: Sell rally intact - OCBC
USD/JPY turned sharply lower as US payrolls underwhelmed while Finance Minister also commented on FX moves after the pair rose above 150-levels. Pair was last at 147.70, OCBC's FX analysts Frances Cheung and Christopher Wong note.
New
2025.08.04 18:55EUR/CHF corrects higher as Switzerland faces US tariff pressure - ING
There is much soul-searching in Switzerland after the country was slapped with 39% US tariffs last week, ING's FX analyst Chris Turner notes.
New
2025.08.04 18:44DXY: In consolidation following the sharp drop - OCBC
US Dollar (USD) turned sharply lower on release of payrolls report last Fri. Most USD/Asean FX was also trading lower this morning, catching up on the USD pullback. DXY was last at 98.80 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
New
2025.08.04 18:39OPEC+ goes with another large supply hike for September - ING
There was little in the way of surprises from OPEC+ over the weekend, as the group increased supply by 547k b/d for September. The market had largely expected the supply hike, one that marks the end of the group returning the full 2.2m b/d of additional voluntary cuts.
New
2025.08.04 18:37US Dollar Index (DXY) hesitates below 98.50 following Friday's sell-off
The US Dollar is trimming some losses on Monday, as the market assimilates Friday's downbeat employment figures, but remains capped below 98.50, well below last week's highs near the 100.00 psychological levels.The Dollar depreciated 1.6% on Friday, after data from the US Labour Department showed th
New
2025.08.04 18:36Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Monday, according to FXStreet data.
New
2025.08.04 18:30Disclaimer:
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
