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
New update 2025.10.02 15:03
Crude oil price today: WTI price bullish at European opening

update 2025.10.02 15:03

West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $61.87 per barrel, up from Wednesday's close at $61.62.
Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $65.34 price posted on Wednesday, and trading at $65.58.

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

 : 2025.10.02

Update

Last updated

 : 2025.10.02

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

GBP/JPY finds temporary support near 198.00, outlook remains bearish

Next article

FX option expiries for Oct 2 NY cut

prev

Most viewed

Forex Today: Uncertainty grips markets as US government shutdown continues

Here is what you need to know on Thursday, October 2:
New
update2025.10.02 16:44

USD/CAD Price Forecast: Potential double top near 1.3960

The US Dollar is drifting away from Tuesday's highs at 1.3957 against the Canadian Dollar in Wednesday's early European session.
New
update2025.10.02 16:40

Silver Price Forecast: XAG/USD hovers around $47.50 as safe-haven demand increases

Silver price (XAG/USD) hovers near a new 14-year high of $47.83 reached on Wednesday, trading around $47.50 per troy ounce during early European hours on Thursday. Crude Oil prices may appreciate further amid increased safe-haven demand following the United States (US) government shutdown.
New
update2025.10.02 16:26

USD/CHF flat lines above mid-0.7900s, moves little after Swiss consumer inflation data

The USD/CHF pair struggles to capitalize on the previous day's bounce from the 0.7930-0.7925 region, or a one-week low, and oscillates in a narrow trading band through the early European session on Thursday.
New
update2025.10.02 16:22

BoJ's Uchida: Japan's economy recovering moderately, albeit with some weak signs

Bank of Japan (BoJ) Deputy Governor Shinichi Uchida said on Wednesday that Japan's economy is recovering moderately, albeit with some weak signs. 
New
update2025.10.02 15:45

EUR/CAD extends upside above 1.6350 as Canadian PMI supports BoC rate cut bets

The EUR/CAD cross extends the rally to around 1.6360 during the early European session on Thursday. The Canadian Dollar (CAD) weakens against the Euro (EUR) as Canadian economic data showed a deeper downturn in the manufacturing sector.
New
update2025.10.02 15:28

FX option expiries for Oct 2 NY cut

FX option expiries for Oct 2 NY cut at 10:00 Eastern Time via DTCC can be found below.
New
update2025.10.02 15:09

Crude oil price today: WTI price bullish at European opening

West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $61.87 per barrel, up from Wednesday's close at $61.62.Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $65.34 price posted on Wednesday, and trading at $65.58.
New
update2025.10.02 15:02

GBP/JPY finds temporary support near 198.00, outlook remains bearish

The downfall in the GBP/JPY pair hits a pause after a three-day losing streak around 198.00 during the Asian trading session on Thursday.
New
update2025.10.02 14:49

WTI rises to near $62.00 on Russia supply concerns

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $61.90 during the Asian trading hours on Thursday. The WTI drifts higher, snapping the three-day losing streak amid prospects of tougher sanctions on Russian crude. 
New
update2025.10.02 14:28

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