Created
: 2025.10.06
- 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 bullish at European opening
World FX news
Breaking news
Crude oil price today: WTI price bullish at European opening
New
2025.10.06 15:06
2025.10.06 15:06
2025.10.06 15:06
West Texas Intermediate (WTI) Oil price advances on Monday, early in the European session. WTI trades at $61.50 per barrel, up from Friday's close at $60.51.
Brent Oil Exchange Rate (Brent crude) is stable, hovering around its previous daily close at $64.28.
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
: 2025.10.06
Related articles
WTI steadies under $61.50 as market digests lower than expected OPEC+ output hike
2025.10.06 23:28OPEC+ confirms November production hike of 137kbd - Société Générale
2025.10.06 20:02Oil rises on OPEC's modest output hike - ING
2025.10.06 18:25WTI holds gains around $61.50 due to smaller output hike by OPEC+
2025.10.06 16:29Crude oil price today: WTI price bullish at European opening
2025.10.06 15:05USD/CAD remains subdued near 1.3950 as Oil prices rise
2025.10.06 12:19
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
Gold blasts past $3,950 as shutdown, uncertainty fuels haven rush
Gold price rallies to a new record high past the $3,900 figure on Monday, hitting $3,970 as the US government continues its shutdown, while investors are pricing in another rate cut by the Federal Reserve (Fed) at the upcoming October 29 meeting. XAU/USD trades at $3,952, up 1.73%, at the time of w
New
2025.10.07 03:49Australian Dollar rises as Greenback softens on shutdown, dovish Fed outlook
The Australian Dollar (AUD) trades on the front foot against the US Dollar (USD) on Monday, extending its recovery as the Greenback's early strength fades. The pair rebounds toward the upper end of its recent consolidation band after swinging sharply in both directions earlier in the day.
New
2025.10.07 03:40Dow Jones Industrial Average wobbles near record highs
The Dow Jones Industrial Average (DJIA) struggled to keep its footing on Monday, kicking off the new trading week opening at record highs above 46,800. The Dow slipped early on Monday after investors briefly showed frayed nerves, but general market sentiment continues to drift into the high side.
New
2025.10.07 03:05FX Today: Fedspeak expected to grab all the attention
The US Dollar (USD) rose to multi-day highs on Monday, propped up almost exclusively by the strong depreciation of the Japanese Yen.
New
2025.10.07 02:45ECB's Lagarde declares disinflation process over, floats Euro as global currency candidate
European Central Bank (ECB) President Christine Lagarde confidently declared the ECB has achieved its disinflation targets while testifying before the European Parliament's Economic and Monetary Affairs Committee.
New
2025.10.07 02:36Canadian Dollar steadies as Oil recovery offsets US Dollar's limited gains
The USD/CAD exchange rate remains stable on Monday, hovering around 1.3950 at the time of writing. The cross edged lower earlier on Monday as the commodity-linked Canadian Dollar (CAD) gained support from the rebound in Oil prices, before stabilizing.
New
2025.10.07 02:20EUR/JPY steadies near record high as Euro and Yen face political shocks
EUR/JPY stabilizes around 175.70 on Monday, up 1.4% for the day, after reaching a record high of 176.25. The unexpected resignation of French Prime Minister Sébastien Lecornu, announced just hours after unveiling his new cabinet, shocked markets and weighed on the single currency.
New
2025.10.07 01:30EUR/USD rebounds above 1.1700 US Dollar strength fades amid shutdown, Fed cut bets
The Euro (EUR) recovers modestly against the US Dollar (USD) on Monday, paring earlier losses after briefly hitting its lowest level in nearly two weeks. The pair climbs back above 1.1700 as the Greenback's initial advance, driven by weakness in the Euro and the Japanese Yen (JPY), loses steam.
New
2025.10.07 01:09GBP/USD flat as US shutdown drags into sixth day
The Pound Sterling remains flat during the North American session as the government shutdown in the US reached its sixth day, which has kept financial markets trading blind without economic data. The GBP/USD trades at around 1.3474, virtually unchanged.
New
2025.10.07 00:52GBP/JPY jumps to fresh year-to-date high as Yen weakness amid Japan's political shift
The British Pound (GBP) strengthens against the Japanese Yen (JPY) on Monday, opening the week with a sharp gap higher as the Yen weakens following Japan's political transition.
New
2025.10.06 23:48Disclaimer:
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
