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WTI Crude Oil Futures And News

The current price of West Texas Intermediate (WTI) crude oil today is $82.97 per barrel. Live charts, historical data, futures contracts, and breaking news on WTI prices can be found below.

WTI Jun 2024
82.97
+0.16 (+0.19%)
Open
82.83
Day Range
82.57 - 83.25
Volume
48.4K
5 Day
+0.90%
1 Month
+2.78%
3 Month
+9.55%
YTD
+13.08%
1 Year
+11.28%

Futures Contracts

Contract
Last
Change
Open
High
Low
Date
82.97
+0.16
82.83
83.25
82.57
06:04
82.24
+0.15
82.09
82.52
81.86
06:04
81.5
+0.15
81.36
81.76
81.13
06:04
80.73
+0.15
80.64
80.94
80.37
06:04
79.99
+0.18
79.8
80.19
79.68
06:04
79.28
+0.17
78.93
79.49
78.93
06:04
78.61
+0.19
78.49
78.82
78.26
06:04
77.96
+0.2
77.59
78.04
77.59
06:04
77.23
+0.08
77.27
77.47
77.23
05:04
76.74
+0.16
76.71
76.89
76.71
06:04
76.06
-0.03
76.11
76.26
75.82
24/04
75.58
-0.01
75.58
75.58
75.58
24/04
75.34
+0.2
75.24
75.47
75.03
06:04
74.68
+0.03
74.68
74.68
74.68
24/04
74.25
+0.04
74.25
74.25
74.25
24/04
73.86
+0.06
73.58
73.86
73.58
24/04
73.5
+0.08
73.5
73.5
73.5
24/04
73.18
+0.1
73.18
73.18
73.18
24/04
73.06
+0.19
72.91
73.17
72.78
06:04
72.51
+0.12
72.51
72.51
72.51
24/04
72.16
+0.14
72.16
72.16
72.16
24/04
71.82
+0.14
71.82
71.82
71.65
24/04
71.51
+0.15
71.51
71.51
71.51
24/04
71.24
+0.17
71.24
71.24
71.24
24/04
71.14
+0.17
71.23
71.23
71.09
05:04
70.66
+0.22
70.66
70.66
70.66
24/04
70.36
+0.22
70.36
70.36
70.36
24/04
70.09
+0.22
70.09
70.09
70.09
24/04
69.84
+0.23
69.84
69.84
69.84
24/04
69.63
+0.25
69.63
69.63
69.63
24/04
69.62
+0.19
69.47
69.67
69.41
06:04
69.17
+0.3
69.17
69.17
69.17
24/04
68.91
+0.33
68.91
68.91
68.91
24/04
68.68
+0.32
68.68
68.68
68.68
24/04
68.47
+0.32
68.47
68.47
68.47
24/04
68.28
+0.34
68.28
68.28
68.28
24/04
68.1
+0.33
68.1
68.1
68.1
24/04
67.89
+0.33
67.89
67.89
67.89
24/04
67.7
+0.33
67.7
67.7
67.7
24/04
67.53
+0.33
67.53
67.53
67.53
24/04
67.38
+0.34
67.38
67.38
67.38
24/04
67.21
+0.36
67.21
67.21
67.21
24/04
67.1
+0.37
66.98
67.1
66.72
24/04
66.93
+0.38
66.93
66.93
66.93
24/04
66.66
+0.38
66.66
66.66
66.66
24/04
66.52
+0.39
66.52
66.52
66.52
24/04
66.38
+0.39
66.38
66.38
66.38
24/04
66.29
+0.4
66.29
66.29
66.29
24/04
66.17
+0.4
66.17
66.17
66.17
24/04
66.03
+0.41
66.03
66.03
66.03
24/04
65.82
+0.41
65.82
65.82
65.82
24/04
65.76
+0.42
65.76
65.76
65.76
24/04
65.67
+0.42
65.67
65.67
65.67
24/04
65.59
+0.43
65.59
65.59
65.59
24/04
65.48
+0.43
65.48
65.48
65.48
24/04
65.31
+0.43
65.31
65.31
65.31
24/04
65.18
+0.43
65.18
65.18
65.18
24/04
65.08
+0.43
65.08
65.08
65.08
24/04
64.96
+0.43
64.96
64.96
64.96
24/04
64.88
+0.43
64.88
64.88
64.88
24/04
64.81
+0.43
64.81
64.81
64.81
24/04
64.68
+0.43
64.68
64.68
64.68
24/04
64.59
+0.43
64.59
64.59
64.59
24/04
64.52
+0.43
64.52
64.52
64.52
24/04
64.48
+0.43
64.48
64.48
64.48
24/04
64.44
+0.43
64.44
64.44
64.44
24/04
64.41
+0.43
64.41
64.41
64.41
24/04
64.38
+0.43
64.38
64.38
64.38
24/04
64.27
+0.43
64.27
64.27
64.27
24/04
64.18
+0.43
64.18
64.18
64.18
24/04
64.06
+0.43
64.06
64.06
64.06
24/04
64.04
+0.43
64.04
64.04
64.04
24/04
63.96
+0.43
63.96
63.96
63.96
24/04
63.98
+0.43
63.98
63.98
63.98
24/04
63.93
+0.43
63.93
63.93
63.93
24/04
63.92
+0.43
63.92
63.92
63.92
24/04
63.87
+0.43
63.87
63.87
63.87
24/04
63.85
+0.43
63.85
63.85
63.85
24/04
63.74
+0.43
63.74
63.74
63.74
24/04
63.73
+0.43
63.73
63.73
63.73
24/04
63.65
+0.43
63.65
63.65
63.65
24/04
63.65
+0.43
63.65
63.65
63.65
24/04
63.63
+0.43
63.63
63.63
63.63
24/04
63.57
+0.43
63.57
63.57
63.57
24/04
63.39
+0.43
63.39
63.39
63.39
24/04
63.53
+0.43
63.53
63.53
63.53
24/04
63.52
+0.43
63.52
63.52
63.52
24/04
63.44
+0.43
63.44
63.44
63.44
24/04
63.44
+0.43
63.44
63.44
63.44
24/04
63.43
+0.43
63.43
63.43
63.43
24/04
63.29
+0.43
63.29
63.29
63.29
24/04
63.26
+0.43
63.26
63.26
63.26
24/04
63.22
+0.43
63.22
63.22
63.22
24/04
63.2
+0.43
63.2
63.2
63.2
24/04
63.19
+0.43
63.19
63.19
63.19
24/04
63.13
+0.43
63.13
63.13
63.13
24/04
63.06
+0.43
63.06
63.06
63.06
24/04
63.16
+0.43
63.16
63.16
63.16
24/04
63.18
+0.43
63.18
63.18
63.18
24/04
63.17
+0.43
63.17
63.17
63.17
24/04
63.11
+0.43
63.11
63.11
63.11
24/04
63.08
+0.43
63.08
63.08
63.08
24/04
63.04
+0.43
63.04
63.04
63.04
24/04
62.98
+0.43
62.98
62.98
62.98
24/04
62.97
+0.43
62.97
62.97
62.97
24/04
62.96
+0.43
62.96
62.96
62.96
24/04
62.95
+0.43
62.95
62.95
62.95
24/04
62.98
+0.43
62.98
62.98
62.98
24/04
62.98
+0.43
62.98
62.98
62.98
24/04
62.98
+0.43
62.98
62.98
62.98
24/04
63.02
+0.43
63.02
63.02
63.02
24/04
63.03
+0.43
63.03
63.03
63.03
24/04
63.06
+0.43
63.06
63.06
63.06
24/04
63.04
+0.43
63.04
63.04
63.04
24/04
63.03
+0.43
63.03
63.03
63.03
24/04
62.96
+0.43
62.96
62.96
62.96
24/04
62.98
+0.43
62.98
62.98
62.98
24/04
62.94
+0.43
62.94
62.94
62.94
24/04
62.93
+0.43
62.93
62.93
62.93
24/04
62.97
+0.43
62.97
62.97
62.97
24/04

Latest WTI Crude Oil news and articles

Oil Takes a Breather as Geopolitical Risk Eases

Apr 23, 2024 at 10:00 | Tom Kool

WTI crude hangs above $80 per barrel as geopolitical risks have eased somewhat, but haven't disappeared altogether.

U.S. Drilling Activity Inches Up

Apr 19, 2024 at 12:11 | Julianne Geiger

The total number of active drilling rigs for oil and gas in the United States rose this week, according to…

Will Namibia Become OPEC’s Newest Member?

Apr 19, 2024 at 17:00 | Irina Slav

Namibia wants to join OPEC as it prepares to reap the benefits of its crude oil resources, with daily production…

Oil Price Volatility Soars Amid Geopolitical Uncertainty

Apr 19, 2024 at 08:40 | Michael Kern

Oil price volatility has climbed dramatically as tensions between Israel and Iran escalate, with Brent breaking the $90 mark early…

Oil Prices Erase Gains as Iran Downplays Reports of Israeli Missile Attack

Apr 19, 2024 at 04:23 | Tsvetana Paraskova

Oil prices gave up nearly all of early Friday’s gains after an Iranian official told Reuters that there hadn’t been…

Traders Became More Bullish on Oil As Middle East Risk Surged

Apr 17, 2024 at 18:00 | Tsvetana Paraskova

Hedge funds and other portfolio managers began to include a higher risk premium in their oil price trades early this…

Hedge Funds Dump U.S. Energy Stocks to Buy Crude Options

Apr 17, 2024 at 08:33 | Charles Kennedy

Following a rally in energy stocks this year, hedge funds have been selling off U.S. oil company shares to pile…

Rising Middle East Risk Sparks Fear of $100 Oil

Apr 16, 2024 at 19:00 | Tsvetana Paraskova

Despite Iran’s attack on Israel over the weekend, oil prices dropped on Monday as an Iranian response…

Uncertainty Drives Investors to Oil Stocks

Apr 15, 2024 at 10:00 | Irina Slav

The energy industry has so far this year been the second-best performer on the U.S. stock market, right after communications.…

Javier Blas: 10 Things Oil Traders Need to Know About Iran's Attack on Israel

Apr 15, 2024 at 09:00 | ZeroHedge

OPEC+ has sufficient spare production capacity to control a price rally, but its approach to increasing output will…

Oil Prices Surge on Fears of an Imminent Iranian Attack

Apr 12, 2024 at 08:43 | Julianne Geiger

Oil prices spiked on Friday morning following reports of heightened tensions between Iran and Israel, with the possibility of an…

U.S. Crude Production To Decline In 2024 As Shale Activity Stalls

Apr 11, 2024 at 19:00 | Alex Kimani

Over the past three years, the U.S. energy sector has enjoyed an oil price boom that has been accompanied by…

Biden Administration's SPR Plans Derailed by Oil Price Surge

Apr 11, 2024 at 17:00 | Robert Rapier

Despite indicating they would refill the Strategic Petroleum Reserve (SPR) by the end…

OPEC Expects Solid Global Oil Demand This Summer

Apr 11, 2024 at 09:00 | Charles Kennedy

Global oil demand in the summer is expected to be strong as consumption of transportation fuels is set to rise…

OPEC+ Rules in an Increasingly Tight Oil Market

Apr 10, 2024 at 19:00 | Tsvetana Paraskova

The OPEC+ group is firmly back in control of the oil market and has the power to have it extremely…

Oil Ticks Lower on EIA Inventory Report

Apr 10, 2024 at 09:38 | Irina Slav

Crude oil prices moved lower today after the Energy Information Administration reported an estimated inventory build of 5.8 million…

Morgan Stanley Hikes Its Summer Oil Price Forecast to $94

Apr 09, 2024 at 09:00 | Charles Kennedy

Morgan Stanley sees heightened geopolitical risk pushing Brent Crude oil prices to $94 per barrel in the third quarter as…

Low Natural Gas Prices Curb U.S. Oil Production Gains

Apr 08, 2024 at 10:00 | Charles Kennedy

U.S. oil producers are not in a rush to significantly boost production despite oil prices hovering at a six-month high,…

Bullish Sentiment Has Taken Hold of Oil Markets

Apr 08, 2024 at 09:00 | Tsvetana Paraskova

Fundamentals and geopolitics pushed oil prices to above $90 per barrel last week as more market participants have become bullish…

U.S. Drilling Activity Slips Further As Oil Prices Rise

Apr 05, 2024 at 12:12 | Julianne Geiger

The total number of active drilling rigs for oil and gas in the United States fell again this week, according…

What are Oil Futures?


Oil futures are financial contracts that allow participants to buy or sell a specific quantity of oil at a predetermined price on a future date. These contracts serve as an agreement between the buyer and the seller to facilitate the delivery of oil or the cash settlement of the contract at the expiration date.

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.

The Specifics of Oil Futures


Contract Specifications: Each oil futures contract specifies the quantity of oil (usually measured in barrels) and the month in which the oil will be delivered to the buyer (e.g., January, February, etc.).

Long and Short Positions: Traders can take either a long position (buying) or a short position (selling) in the oil futures market. Long positions profit from rising oil prices, while short positions profit from falling prices.

Price Speculation: Traders analyze various factors like supply and demand, geopolitical events, and economic indicators to predict future oil prices. Speculators who trade oil futures before the delivery date will not come into contact with either the seller or the oil.

Margin Requirements: To trade oil futures, participants must deposit an initial margin, which is a fraction of the contract's total value. This margin acts as collateral to cover potential losses.

Trading and Settlement: Oil futures are typically traded electronically. If a trader holds a contract until its expiration, they must either settle it by physical delivery of the oil or offset their position by taking an opposing trade before the contract's last trading day. While WTI contracts must be settled by physical delivery, Brent contracts can be settled financially due to technicalities in how the ICE Brent futures are set up.

Front Month Contract: When you hear terms like ‘the current price of oil’ or ‘oil is trading at $X today’, these statements refer to the front month contract. The front month contract is the oil futures contract with an expiration date closest to the current date. In late May, the front month contract will be for July.

Rollover: When the rollover date approaches, traders who wish to maintain their exposure to oil while avoiding the physical delivery of oil will close their positions in the expiring contract and simultaneously open positions in the next contract month. This process is known as rolling over the futures contract.

Brent vs. WTI Crude Oil Futures:


Brent and West Texas Intermediate (WTI) are the two most widely traded crude oil benchmarks, the key differences between them being:

1. Geographic Location: Brent crude oil is extracted from oil fields in the North Sea, off the coast of Europe, while WTI is sourced from the United States, primarily from Texas, Louisiana, and North Dakota.

2. Composition: Brent crude oil is a blend of oil from multiple fields, making it a mixture of various qualities. WTI is a lighter and sweeter crude oil with a lower sulfur content, making it easier to refine.

3. Pricing and Global Impact: Brent crude oil is considered the global benchmark and influences oil prices in Europe, Africa, and the Middle East. WTI, on the other hand, primarily affects prices in North America. However, both benchmarks impact the overall global oil market.

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.

FAQs

+

What are WTI and Brent oil futures?

WTI (West Texas Intermediate) and Brent are two major benchmarks for crude oil prices. WTI represents oil extracted in the United States, primarily from wells in Texas, while Brent represents oil extracted from the North Sea, primarily in the United Kingdom. WTI and Brent oil futures are financial contracts that allow participants to speculate on the future price of crude oil.

+

How do WTI and Brent oil futures work?

WTI and Brent oil futures are standardized contracts traded on futures exchanges. Each contract represents a specific quantity (typically 1,000 barrels) of oil to be delivered at a specified future date. Traders can buy or sell these contracts, aiming to profit from price fluctuations. The futures price reflects market expectations for the future value of oil.

+

What factors influence the prices of WTI and Brent oil futures?

Various factors influence the prices of WTI and Brent oil futures, including global supply and demand dynamics, geopolitical events, production cuts or increases by major oil-producing countries, economic growth, currency fluctuations, and weather conditions. Additionally, factors specific to each benchmark, such as infrastructure constraints or political stability in the respective regions, can affect their prices.

+

How are WTI and Brent oil futures priced?

The pricing of WTI and Brent oil futures is based on the underlying spot prices of the respective crude oils. Spot prices represent the current market value of oil for immediate delivery. Futures prices are determined by market participants' expectations of future supply, demand fundamentals, conditions, storage costs, interest rates, and other relevant factors. The relationship between the futures and spot prices is influenced by market sentiment and the cost of carrying oil inventories.

+

What is the difference between WTI and Brent oil futures?

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.

Location: WTI is primarily produced and delivered in the United States, while Brent represents oil from the North Sea region.

Quality: WTI is considered a "light sweet" crude oil, which is easier to refine, while Brent is a blend of crude oils, including both "light sweet" and "heavy sour" grades.

+

Who trades WTI and Brent oil futures?

A wide range of participants trade WTI and Brent oil futures, including oil producers, refiners, physical traders, financial institutions, hedge funds, and individual investors. These contracts provide an avenue for market participants to manage their exposure to crude oil price movements or speculate on future price changes.

+

Where can one trade WTI and Brent oil futures?

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.

+

Are WTI and Brent oil futures suitable for individual investors?

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. It requires a deep understanding of the oil market, risk management techniques, and the ability to monitor positions actively. Individual investors should carefully assess their risk tolerance and consider seeking professional advice before engaging in oil futures trading.

+

How are WTI and Brent oil futures settled?

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. The final settlement price is determined by the average of daily spot prices over a specific period, and cash is exchanged based on the price difference between the futures contract and the spot price.

+

Can WTI and Brent oil futures be used for hedging purposes?

Yes, WTI and Brent oil futures are commonly used for hedging purposes by participants in the oil industry. Oil producers, refiners, and other market participants often utilize futures contracts to manage their exposure to price volatility. 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.



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