Select Language

Crude Oil price today: WTI price bullish at European opening

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

World FX news

search
Breaking news

Crude Oil price today: WTI price bullish at European opening

  • X
  • facebook
  • LINE
  • RSS
  • X
  • facebook
  • LINE
  • RSS
update 2025.09.29 15:04
Crude Oil price today: WTI price bullish at European opening

update 2025.09.29 15:04

West Texas Intermediate (WTI) Oil price advances on Monday, early in the European session. WTI trades at $65.09 per barrel, up from Friday's close at $65.00.
Brent Oil Exchange Rate (Brent crude) is stable, hovering around its previous daily close at $68.70.

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

 : 2025.09.29

Update

Last updated

 : 2025.09.29

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

FX option expiries for Sept 29 NY cut

Next article

EUR/GBP attracts some sellers below 0.8750 as BoE keeps cautious stance on future cuts

prev

Most viewed

EUR: Heading into a non-event ECB - ING

EUR/USD is hovering around 1.160, a level that, in our view, can work as an anchor again today and possibly for a few more days should US CPI fail to add much to the US Dollar (USD) narrative, ING's FX analyst Francesco Pesole notes.
New
update2025.10.23 17:11

Pound Sterling wobbles against US Dollar as focus shifts to US inflation

The Pound Sterling (GBP) trades in a tight range around 1.3350 against the US Dollar (USD) during the European trading session on Thursday.
New
update2025.10.23 17:09

EUR/GBP Price Forecasts: Trapped in a tightening range around 0.8700

The Euro is giving away most of the gains taken on Wednesday on Thursday, amid the softer-than-expected UK inflation data, and returns below 0.8700.
New
update2025.10.23 17:03

SNB minutes rule of fears of inflation remaining persistently negative

The latest minutes from the Swiss National Bank's (SNB) September monetary policy meeting express that interest rates won't fall into negative territory as inflationary pressures in the economy are not expected to become persistently negative.
New
update2025.10.23 16:45

USD/CAD Price Forecast: Remains below 1.4000, tests lower ascending channel boundary

USD/CAD moves little after two days of losses, trading around 1.3990 during the early European hours on Thursday. The technical analysis of the daily chart suggests a weakening of a prevailing bullish bias as the pair is attempting to break below the ascending channel pattern.
New
update2025.10.23 16:40

EUR/USD ticks lower as US Dollar edges up amid fresh trade tensions

EUR/USD drifts lower at the European session opening on Thursday, trading right below 1.1600 at the time of writing, down from the previous day's highs at 1.1620.
New
update2025.10.23 16:37

Forex Today: Choppy action continues ahead of US housing data

Here is what you need to know on Thursday, October 23:
New
update2025.10.23 16:32

FX option expiries for Oct 23 NY cut

FX option expiries for Oct 23 NY cut at 10:00 Eastern Time via DTCC can be found below.
New
update2025.10.23 16:29

WTI Oil returns above $60.00 amid US sanctions against Russian Crude

Oil prices have accelerated their recovery with US benchmark West Texas Intermediate (WTI) returning to levels beyond $60.00 line as the US administration imposed new sanctions on Russia's largest Oil companies, which are expected to restrict global supply.The US Department of the Treasury announced
New
update2025.10.23 16:28

NZD/USD holds steady below 0.5750, US-China trade talks in focus

The NZD/USD pair trades on a flat note near 0.5735 during the early European session on Thursday. The US Dollar (USD) steadies against the New Zealand Dollar (NZD) as traders remain on edge ahead of delayed US inflation data and upcoming US-China trade talks. 
New
update2025.10.23 15:53

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