Created
: 2025.10.16
- 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
US President Donald Trump says India will stop buying Russian oil
World FX news
Breaking news
US President Donald Trump says India will stop buying Russian oil
New
2025.10.16 10:09
2025.10.16 10:09
2025.10.16 10:09
US President Donald Trump said that Indian Prime Minister Narendra Modi has agreed to stop buying oil from Russia. Trump further stated that he would next try to get China to do the same as Washington seeks to tighten financial thumbscrews on the Kremlin as part of efforts to end the war in Ukraine, BBC reported late Wednesday.
Additionally, US Treasury Secretary Scott Bessent said that the administration expects Japan to stop buying and importing energy from Russia. "We discussed issues related to economic relations between the countries and our expectation that Japan will stop importing Russian energy," said Bessent.
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
: 2025.10.16
Related articles
USD/CAD remains below 1.4050 due to ongoing US-China trade tensions
39 minutes agoWTI holds losses near $58.00, downside seems limited as India halts Russian Oil imports
2025.10.16 11:52US President Donald Trump says India will stop buying Russian oil
2025.10.16 10:08WTI steadies near $58 as supply glut fears, US-China trade tensions weigh
2025.10.15 20:10WTI remains on the defensive below $58.50 on supply surplus fears, US-China trade tensions
2025.10.15 15:59Crude oil price today: WTI price bearish at European opening
2025.10.15 15:23
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 rallies to new record high as economic risks and Fed rate cut bets boost demand
Gold (XAU/USD) is prolonging its uptrend for the fifth straight day and scaling new record highs through the Asian session on Thursday amid global anxieties.
New
2025.10.16 13:20USD/CAD remains below 1.4050 due to ongoing US-China trade tensions
USD/CAD extends its losses for the second successive session, trading around 1.4030 during the Asian hours on Thursday. The pair depreciates as the US Dollar (USD) struggles amid market caution, driven by the escalating United States (US)-China trade tensions, the world's two largest economies.
New
2025.10.16 12:43WTI holds losses near $58.00, downside seems limited as India halts Russian Oil imports
West Texas Intermediate (WTI) Oil price moves little after registering slight gains in the previous session, trading around $58.20 per barrel during the Asian hours on Thursday.
New
2025.10.16 11:52US Dollar Index (DXY) slides to over one-week low, seems vulnerable below mid-98.00s
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, remains under some selling pressure for the third straight day and drops to an over one-week low during the Asian session on Thursday.
New
2025.10.16 11:47Japanese Yen strengthens amid safe-haven demand; USD/JPY under pressure on weaker USD
The Japanese Yen (JPY) remains on the front foot against its American counterpart for the third consecutive day and climbs to an over one-week high during the Asian session on Thursday.
New
2025.10.16 11:35NZD/USD gathers strength to near 0.5750 on fears of prolonged US government shutdown
The NZD/USD pair recovers some lost ground around 0.5740, snapping the seven-day losing streak during the Asian trading hours on Thursday. The US Dollar (USD) edges lower against the New Zealand Dollar (NZD) amid the ongoing US government shutdown.
New
2025.10.16 11:24RBA's Kent: Cash rate now within wide, uncertain neutral range
Reserve Bank of Australia (RBA) Assistant Governor (Financial Markets) Christopher Kent spoke at the CFA Society Australia Investment Conference 2025 late Wednesday.
New
2025.10.16 10:56BoJ's Tamura: Central bank should lift rates closer towards neutral
The Bank of Japan (BoJ) board member Naoki Tamura said on Thursday that the central bank should lift the interest rates closer towards neutral.
New
2025.10.16 10:41Australian Dollar declines following employment data release
The Australian Dollar (AUD) declines against the US Dollar (USD) on Thursday, retracing its recent gains from the previous session. The AUD/USD pair loses ground as the AUD struggles following the release of Australia's employment data.
New
2025.10.16 10:31AUD/JPY slumps below 98.00 as Australian Unemployment Rate climbs to four-year high of 4.5%
The AUD/JPY cross falls to near 97.70 during the early Asian session on Thursday. The Australian Dollar (AUD) weakens against the Japanese Yen (JPY) after the release of Australia's employment report for September. The Bank of Japan (BoJ) board member Naoki Tamura is set to speak later on Thursday.
New
2025.10.16 10:26Disclaimer:
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
