Created
: 2025.09.26
- 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
WTI holds above $65.00, trading near three-week highs as pressure mounts on Russian Oil
World FX news
Breaking news
WTI holds above $65.00, trading near three-week highs as pressure mounts on Russian Oil
2025.09.26 12:04
2025.09.26 12:04
- WTI price reached a three-week high of $65.18 on Friday.
- President Trump presses Turkish President Erdogan to end Russian Oil imports to tighten pressure on Moscow.
- Russia to impose partial diesel export ban, extend gasoline ban -- Russian Deputy Prime Minister Alexander Novak.
West Texas Intermediate (WTI) Oil price extends its gains for the fourth successive session, trading around $65.10 per barrel during the Asian hours on Friday. The WTI price rises to near a three-week high due to prevailing supply concerns, driven by pressures on Russian Oil related to the Ukraine-Russia conflict.
United States (US) President Donald Trump asked Turkish President Recep Tayyip Erdogan to stop buying Russian Oil in a bid to tighten pressure on Moscow over the Ukraine conflict. Additionally, Washington will also impose sanctions from October 1 on Serbia's Russian-owned oil company NIS, which operates the country's only refinery. The US Treasury's Office of Foreign Assets Control had first sanctioned Russia's oil sector on January 10, giving Gazprom Neft 45 days to divest its stake in NIS.
Reuters cited IG analyst Tony Sycamore, saying "Gains were supported by ongoing Ukrainian drone strikes targeting Russian oil infrastructure, NATO's warning to Russia it is ready to respond to future violations of its airspace and Russia's move to halt key fuel exports."
A decline in Oil refining capacity has brought Russia close to cutting crude production, and several regions are already experiencing shortages of certain fuel grades. On Thursday, Russian Deputy Prime Minister Alexander Novak announced to impose a partial ban on diesel exports would be imposed until the end of the year, while extending its existing ban on gasoline exports.
The upside of Crude Oil prices could be restrained amid uncertainty surrounding the Federal Reserve (Fed) policy stance. Chicago Fed President Austan Goolsbee noted that he was not eager to do a lot more policy easing while inflation is above target and moving the wrong way. Meanwhile, Fed Governor Stephen Miran, the Fed's newest policymaker, preferred a more aggressive 0.50% cut to prevent labor market collapse.
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
: 2025.09.26
Related articles
WTI gains traction amid surprise US inventory draw and weaker Greenback
2025.10.23 03:19WTI extends gains above $58.00 on hopes of a US-China deal
2025.10.22 20:45US to buy Oil for strategic reserves - ING
2025.10.22 17:30USD/CAD extends losses below 1.4000 amid higher Oil prices
2025.10.22 16:24Crude oil price today: WTI price bullish at European opening
2025.10.22 15:06USD/CAD falls to near 1.4000 as Oil prices extend gains on falling stockpiles
2025.10.22 12:12
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
US President Donald Trump: Long meeting scheduled with Xi, thinks something will work out
US President Donald Trump said late Wednesday that a long meeting is scheduled with China's Xi Jinping in South Korea and thinks something will work out.
New
2025.10.23 08:19USD/JPY posts modest losses below 192.00 as US government shutdown continues
The USD/JPY pair trades with mild losses near 151.90, snapping the three-day winning streak during the early Asian session on Thursday. The concerns over the US-China trade front and the ongoing US federal government shutdown weigh on the US Dollar (USD) against the Japanese Yen (JPY).
New
2025.10.23 08:08NZD/USD Price Forecast: Stuck in narrow range, waiting for catalyst
The NZD/USD consolidates within the 0.5700-0.5760 for the second straight day, as the 20-day Simple Moving Average (SMA) at 0.5764 capped the pair's advance towards the 0.58 figure. At the time of writing, the pair trades at 0.5739, virtually unchanged.
New
2025.10.23 08:05EUR/USD steady around 1.1600 as markets wait for US CPI
EUR/USD holds firm near the 1.1600 figure on Wednesday amid a scarce economic docket in both sides of the Atlantic as market participants await a delayed US Consumer Price Index (CPI) report, to be released on Friday.
New
2025.10.23 06:34Dow Jones Industrial Average drops as fresh trade fears rattles markets
The Dow Jones Industrial Average (DJIA) struggled on Wednesday, declining a little over 500 points at its lowest point on the day.
New
2025.10.23 04:01FX Today: Attention remains on US-China trade and US shutdown
The US Dollar (USD) snapped a multi-day positive run, coming under renewed downside pressure after hitting fresh weekly highs amid somewhat mitigated concerns on the US-China trade front, while the lack of news surrounding a deal to end the US federal government shutdown continued to prevail.
New
2025.10.23 03:34WTI gains traction amid surprise US inventory draw and weaker Greenback
West Texas Intermediate (WTI) Crude Oil edges higher on Wednesday, extending gains for the second consecutive session as traders react to a surprise draw in US inventories.
New
2025.10.23 03:19Gold extends losses ahead of key US inflation report
Gold price slides over 1.50% on Wednesday after plummeting more than 5% on Tuesday in its biggest daily loss in five years as traders brace for the release of the latest inflation report in the United States (US). At the time of writing, XAU/USD trades at $4,050 after reaching a high of $4,161.
New
2025.10.23 03:06USD/CHF steadies on trade optimism, Swiss deflation pressures
The USD/CHF pair is down 0.10% on Wednesday, trading around 0.7950 at the time of writing, after bouncing from the 0.7900 area earlier this week.
New
2025.10.23 02:05AUD/USD rises modestly on trade optimism as eyes turn to PMI, US inflation
AUD/USD trades slightly higher around 0.6500 on Wednesday at the time of writing, up about 0.10% for the day. The pair benefits from a renewed risk-on mood, as investors welcome more constructive signals on the trade front between the United States (US) and China.
New
2025.10.23 00:53Disclaimer:
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
