Today’s Oil Price: Brent Crude & WTI Oil Prices Today

The current price of West Texas Intermediate (WTI) crude oil today is $86.88 per barrel. Live charts, historical data, futures contracts, and mercatox review breaking news on WTI prices can be found below. Live interactive chart of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel.

  1. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances.
  2. Today’s WTI crude oil spot price of $86.91 per barrel is up 4.16% compared to one week ago at $83.44 per barrel.
  3. The real-time price of Brent crude oil is at $91.41 per barrel, and the price of WTI crude oil is at $86.91 per barrel.

Brent crude oil opened the year of 2020 amidst an uptrend that began in November 2020 from $38.84 per barrel and continued the rally to $68.72 per barrel until early March 2021. beaxy exchange review All market data (will open in new tab) is provided by Barchart Solutions. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic.

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The futures price reflects market expectations for the future value of oil. Technological developments and changes in resource distributions along the oil supply chain will also impact crude oil spot prices. The increased focus on renewable energy is already accelerating such changes. We also explain what oil blends are (like Brent and WTI), and ways you can speculate on live crude oil spot prices without having to buy physical barrels. That’s up by 4.16% from the price of $83.44 per barrel one week ago. WTI crude oil trades from Sunday through to Friday, 5 PM to 4 PM CT.

Investors Brace for Impact as Crude Markets React to Rising War Risks

WTI crude oil also opened 2021 with an uptrend at $48.27 per barrel. WTI crude had a series of rallies and tumbles to reach a year-high price of $84.06 per barrel in late October 2021. The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. Extraction costs are typically higher for new resources, meaning these oils are only competitive in lower-supply, high-price environments.

There are two main differences between WTI and Brent, the location from which they are sourced and the quality of the oil. These two factors lead to a price difference between the two termed the ‘spread’ which will change depending on different supply/demand dynamics and geopolitical influences. An easy way to get breaking news about the crude oil market is to create a Google Alert which will email you top news stories about oil as they occur. This article provides an in-depth analysis of market sentiment and retail positioning on several assets, including gold, silver, crude oil, the S&P 500 and EUR/USD.

Oil Prices Could Surprise to the Upside This Year

A mysterious spill from a partially completed canal in northern Afghanistan has raised concerns about the quality of construction and potential environmental impacts. The energy storage sector is rapidly growing, with thermal batteries being the latest innovation, offering affordability and potential for decarbonization. Marko has been working on the road for over 5 years, and is currently based in Europe.

The current price of WTI crude oil as of April 04, 2024 is 87.01 per barrel. The highest ever historical WTI crude oil price was at $141.63 per barrel. Other significant recent historical highs include $77.74 per barrel in Jul, 2006 and $109.50 per barrel in Aug, 2013.

If you check live prices on Saturdays, you will always see the last recorded WTI crude price from the previous Friday. The commodity of crude oil is by far the world’s most important energy source and the price of oil therefore plays an important role in industrial and economic development. The most important type of crude oil used in Europe is Brent Crude, named after the North Sea oilfield where it is extracted. Brent Crude is a particularly light crude oil which is carried from the North Sea to the Sullom Voe Terminal on Mainland, Shetland by an underwater pipeline. Oil futures are traded on commodities exchanges, such as the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE).

As with all commodities, oil prices are driven by supply and demand. However, the global pool of oil and the ease with which oil moves around the world levels some of these price pressures, and no one coinspot reviews oil producer to completely dominate the world market. In Brent crude oil’s instance, these reserves are under the seafloor, while WTI crude oil is extracted from reserves located under dry land.

Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice. DailyFX Limited is not responsible for any trading decisions taken by persons not intended to view this material.

Brent crude oil trades six days a week, so based on which day you’re looking at crude oil spot prices, you may be getting the last recorded live price. At local time on Sundays for your chosen exchange, you’ll almost certainly get the last Brent crude oil spot price that the market closed with. On an international level there are a number of different types of crude oil, each of which have different properties and prices. The types of crude oil come from regions as diverse as Alaska North Lope, Arab Light or Zueitina in Libya. For the purposes of trading on futures exchanges in London or New York, however, reference oils are used. These are standardised products used to determine the prices for all other types.