Brent futures traded at $71.12/bbl, a drop of 0.21% in the last 24 hours. WTI futures traded at $67.67 per barrel, as of 9 a.m. 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. WTI crude oil also opened 2021 with an uptrend at $48.27 per barrel.

It requires a deep understanding of the oil market, risk management techniques, and the ability to monitor positions actively. Individual investors should carefully assess bdswiss forex broker review their risk tolerance and consider seeking professional advice before engaging in oil futures trading. Oil futures are traded on commodities exchanges, such as the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE). These exchanges provide a platform for participants to buy or sell oil futures contracts.

We receive compensation from the companies that advertise on Blueprint which may impact how and where products appear on this site. Blueprint does not include all companies, products or offers that may be available to you within the market. A list of selected affiliate partners is available here. Brent crude fell to its 52-week low of $68.33 per barrel on Sep. 11, 2024. It reached its 52-week high of $94.17 on Oct. 20, 2023.

Brent crude fell to its 52-week low of $69.15 per barrel on Sep. 10, 2024. It reached its 52-week high of $96.62 on Sep. 27, 2023. WTI crude fell to its 52-week low of $65.56 per barrel on Sep. 10, 2024. It reached its 52-week high of $95.52 on Sep. 27, 2023. 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. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices.

• Futures contracts are agreements to buy or sell a standardized amount of an asset at a specific price on a particular future date.
• The information is accurate as of the publish date, but always check the provider’s website for the most current information.
• Individual investors should carefully assess their risk tolerance and consider seeking professional advice before engaging in oil futures trading.
• That’s up by 2.58% from the price of $60.92 per barrel one week ago.
• When OPEC increases production, it has the opposite effect.
• Because crude oil is needed to manufacture other primary materials, it is the world’s most important commodity.

Today’s WTI crude oil spot price of $62.49 per barrel is up 2.58% compared to one week ago at $60.92 per barrel. Today’s Brent crude oil spot price is at $64.93 per barrel, down by 1.02% from the previous trading day. In comparison to investment managers one week ago ($63.36 per barrel), Brent oil is up 2.48%. In December 2005 the global demand for crude oil was 83.3 million barrels per day according to the International Energy Agency (IEA) and will rise further.

WTI crude fell to its 52-week low of $64.78 per barrel on Sep. 10, 2024. It reached its 52-week high of $91.09 on Oct. 20, 2023. Farran Powell is the managing editor of investing, retirement and banking at USA TODAY Blueprint. That “Miracle on the Hudson” coverage won many breaking news awards. News & World Report, where she oversaw multiple verticals including advisors, brokers and investing. She holds a BSc from the London School of Economics and an M.A.

Everything you wanted to know about commodity trading. A sector once viewed as a classic Trump trade has been left behind by investors this year, but there are several reasons it could soon rally, BofA said.

Crude oil is extracted from underground oil reserves. In Brent crude oil’s instance, these reserves are under the seafloor, while WTI crude oil is extracted from reserves located under dry land. So the extraction process, machinery and capital required are different. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc. WTI crude is a blend of oils extracted from U.S. oilfields in Texas, North Dakota and Louisiana and is delivered to Cushing, Oklahoma.

By taking positions in oil futures, they can offset potential losses from adverse price movements in the physical market, providing a form of insurance against price risks. WTI and Brent oil futures can be suitable for individual investors, but they come with inherent risks. Futures trading involves leverage, meaning that a small change in the futures price can result in significant gains or losses.

West Texas Intermediate (WTI) crude oil price today

Welcome to browse the page of WTI Crude Price Chart which shows the current WTI crude oil price and its fluctuation width, previous close price and open price, etc. It also shows the WTI crude price history charts for the past 6 hours, 24 hours, 30 days, 90 days, 180 days, 1, 2, 5, and 10 years. According to the WTI Crude Price Chart, we may Analysis what factors affected the WTI crude history price, and forecast the tendency of the future price. WTI and Brent oil futures are primarily traded on major futures exchanges, such as the New York Mercantile Exchange (NYMEX) for WTI and the Intercontinental Exchange (ICE) for Brent. These exchanges offer electronic trading platforms where traders can execute transactions and manage their positions. The highest ever historical WTI crude oil price was at $141.63 per barrel.

Brent crude oil price

That’s up by 2.58% from the price of $60.92 per barrel one week ago. WTI crude oil trades from Sunday through to Friday, 5 PM to 4 PM CT. If you check live prices on Saturdays, you will always see the last recorded WTI crude price from the previous Friday. 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.

WTI futures contracts are typically settled through physical delivery. If a trader holds a contract until expiration and does not offset or roll over the position, they must provide or take delivery of the actual crude oil. Brent futures, on the other hand, can be settled financially.

Oil (WTI)

While Brent and WTI have distinct characteristics, their prices are interconnected. Global events, supply and demand factors, and market sentiment can cause prices to converge or diverge between the two benchmarks. WTI crude oil’s spot price was at $57.23 per barrel one month ago. Compared to today’s price of $62.49 per barrel, the price is up by 9.19%.

These are standardized products used to determine the prices for all other types. The reference oil traded most frequently and of major significance for the USA is West Texas Intermediate (WTI), while the most important in Asia is Dubai Fateh. Other reference oil types include Leona, Tijuana, Alaska North Slope, Zueitina or Urals. The types of crude oil come from regions as diverse as Alaska North Lope, Arab Light or Zueitina in Libya. These are standardised products used to determine the prices for all other types. The abbreviation indicates one barrel of crude oil, but you may see Gbbl (one billion barrels), as well as Mbbl (one million barrels) or Kbbl for one thousand barrels.

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Additionally, factors specific to each benchmark, such as infrastructure constraints or political stability in the respective regions, can affect their prices. 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. One of the most popular ways investors speculate on crude oil and other commodity prices is by trading futures contracts. Futures contracts are agreements to buy or sell a standardized amount of an asset at a specific price on a particular future date.

• WTI crude fell to its 52-week low of $64.78 per barrel on Sep. 10, 2024.
• In Brent crude oil’s instance, these reserves are under the seafloor, while WTI crude oil is extracted from reserves located under dry land.
• Other reference oil types include Leona, Tijuana, Alaska North Slope, Zueitina or Urals.

Historical Prices for Oil (Brent)

Brent crude is a sweet, light blend of oils extracted from the North Sea near Europe. Browse news and quotes for dozens of commodity futures, or select a commodity for charting and rate data. The price of Brent crude oil is $64.93 per barrel, and the price of WTI crude oil is at $62.49 per barrel. 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.

WTI crude had a series of rallies and tumbles to reach a year-high price of $84.06 per barrel in late October 2021. Saudi Arabian oil is neither WTI, extracted in the U.S., nor Brent, extracted in the North Sea near Europe. ig forex broker review Saudi Arabia’s state-owned oil company, Saudi Aramco, uses the Dubai/Oman crude oil benchmark when pricing its oil for delivery to Asia. The difference between the spot price of Brent crude and WTI crude is called the Brent/WTI spread.