Created
: 2025.08.29
- 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
2025.08.29 15:09
2025.08.29 15:09
2025.08.29 15:09
West Texas Intermediate (WTI) Oil price falls on Friday, early in the European session. WTI trades at $64.03 per barrel, down from Thursday's close at $64.10.
Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $67.59 after its previous daily close at $67.62.
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
: 2025.08.29
Related articles
US Oil stocks fell last week, strong demand for Oil products - Commerzbank
2025.08.29 20:29Significant increase in Russian Oil shipments to India expected in September - Commerzbank
2025.08.29 20:23Russia wants to export more Oil - Commerzbank
2025.08.29 20:16Energy: Peace deal hopes fade further - ING
2025.08.29 19:03WTI drops below $64.00 on demand concerns
2025.08.29 16:02USD/CAD hovers around 1.3750 ahead of US PCE, Canada GDP Annualized data
2025.08.29 15:32
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
EUR/CHF Price Forecast: Euro steadies below 100-day EMA, eyes 0.9400 hurdle
The EUR/CHF attracts buyers on Friday, extending gains for a second straight day after a three-day decline earlier in the week. The cross is trading near 0.9358 at the start of the American session, holding just below the 100-day Exponential Moving Average (EMA).
New
2025.08.29 21:33USD/CAD steady near 1.3750 as traders await US PCE inflation and Canada GDP
The USD/CAD is virtually unchanged on Friday, trading flat after pausing a three-day losing streak as traders turn cautious ahead of the US Personal Consumption Expenditures (PCE) inflation report and Canada's Gross Domestic Product (GDP), both scheduled for release at 12:30 GMT.
New
2025.08.29 20:54USD/JPY: Markets balance weaker data and supportive spreads - Scotiabank
The Japanese Yen (JPY) is entering Friday's NA session flat from Thursday's close, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.08.29 20:51USD/CNH remains negative - UOB Group
The sharp drop in US Dollar (USD) could test 7.1100 before stabilization can be expected; the next support at 7.1000 is unlikely to come into view.
New
2025.08.29 20:49GBP is weak within range - Scotiabank
The Pound Sterling (GBP) is weak, down 0.4% against the US Dollar (USD) and underperforming all of the G10 currencies as we enter Friday's NA open.
New
2025.08.29 20:47USD/JPY: Outlook is mixed - UOB Group
US Dollar (USD) could edge lower; based on the current momentum, it may not reach the major support at 146.40. In the longer run, outlook is mixed; USD could trade in a range between 146.40 and 148.40, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.08.29 20:45EUR quiet in tight range with mixed data ahead of German CPI - Scotiabank
The Euro (EUR) is quietly consolidating within a remarkably tight range and entering Friday's NA session unchanged from Thursday's close, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.08.29 20:42Escalating conflict between the White House and the Fed causes Gold to rise - Commerzbank
The Gold price surpassed the $3,400 per troy ounce mark yesterday and climbed further to a five-week high, Commerzbank's commodity analyst Carsten Fritsch notes.
New
2025.08.29 20:40Silver Price Forecast: XAG/USD corrects slightly from $39 ahead of US PCE inflation data
Silver price (XAG/USD) trades 0.6% lower around $38.80 during the European trading session on Friday.
New
2025.08.29 20:37CAD gains stalled in low/mid 1.37s ahead of GDP data - Scotiabank
Canadian Dollar (CAD) gains have stalled in the low/mid-1.37 zone, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.08.29 20:37Disclaimer:
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
