Quotes for energy resources WTI US Crude Oil Spot (WTI)

• WTI rises but is still set for its eighth straight weekly loss.
• Crude Oil prices climb following new US sanctions on Iranian oil and Hong Kong-flagged vessels linked to Iran’s shadow fleet.
• Oil demand struggles due to heightened global trade tensions after Trump threatened a 200% tariff on European wines and champagne.

West Texas Intermediate (WTI) Oil price edges higher on Friday after losing more than 1% in the previous session. However, WTI remains on track for its eighth consecutive weekly decline, trading around $66.70 per barrel during Asian hours. The price uptick comes as fresh US sanctions on Iranian Oil and shipping provide some support.

On Thursday, the US imposed new sanctions targeting Iran’s Oil minister as part of its ongoing "maximum pressure" campaign against Tehran. The sanctions also extend to several Hong Kong-flagged vessels involved in Iran’s shadow fleet, which helps conceal oil shipments, according to the US Treasury Department.

Despite this, crude Oil remains under pressure due to broader macroeconomic concerns. Fears that global trade tensions could dampen demand persist, especially after US President Donald Trump threatened a 200% tariff on all European wines and champagne during Thursday’s early US session, sparking concerns in global markets.

Additionally, uncertainty looms over a proposed US-brokered ceasefire between Russia and Ukraine. Russian President Vladimir Putin stated on Thursday that Moscow agrees with the US proposal but insists that any ceasefire must pave the way for lasting peace and address the root causes of the conflict. European Union (EU) High Representative for Foreign Affairs and Security Policy, Kaja Kallas, suggested that Russia is likely to accept the ceasefire proposal but with conditions, according to Reuters.

Further pressuring Oil prices, the International Energy Agency (IEA) warned that a growing supply surplus could intensify as trade tensions weigh on demand while The Organization of the Petroleum Exporting Countries and its alias, known as OPEC+, ramp up production. The IEA projects that global Oil supply will outpace demand by approximately 600,000 barrels per day (bpd) this year, driven by US-led supply growth. Meanwhile, demand growth is forecast at 1.03 million bpd—70,000 bpd lower than last month’s estimate.

West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $67.55 per barrel, up from Wednesday’s close at $67.44. Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $70.69 price posted on Wednesday, and trading at $70.81.

Disclaimer: West Texas Intermediate (WTI) and Brent oil prices mentioned above are based on FXStreet data feed for Contracts for Differences (CFDs).

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• WTI price holds losses as global trade tensions escalate following President Trump’s renewed tariff threats.
• OPEC+ struggles to enforce production targets amid a surge in February crude output, driven primarily by Kazakhstan.
• US gasoline inventories plummeted by 5.7 million barrels, surpassing analysts' expectations of a 1.9 million-barrel decline.

West Texas Intermediate (WTI) crude Oil price remains subdued after two days of gains, trading around $67.40 per barrel during early European hours on Thursday. However, crude Oil could face headwinds as traders shift their focus to escalating global trade tensions.

US President Donald Trump threatened additional tariffs in response to the European Union’s (EU) retaliatory measures against the United States (US). After the US imposed a 25% tariff on European steel and aluminum, the EU countered with tariffs on €26 billion worth of US goods in April. Trump's aggressive stance on tariffs has unsettled investors, weakened consumer and business confidence, and heightened fears of a US recession.

Oil prices may also face downward pressure after the Organization of the Petroleum Exporting Countries (OPEC) reported a significant rise in February crude output, led by Kazakhstan. This increase highlights challenges for OPEC+ in maintaining adherence to agreed production targets, according to Reuters.

On the other hand, Oil found support on Wednesday as US data pointed to strong domestic demand and slowing inflation, easing investor concerns. Government figures showed US gasoline inventories dropped by 5.7 million barrels—far exceeding analysts' expectations of a 1.9 million-barrel decline—while distillate stocks also fell more than anticipated. This sharp decrease in gasoline inventories bolstered expectations for a seasonal demand surge in spring.

According to Reuters, JP Morgan analysts highlighted signs of robust US demand, along with Ukraine’s deployment of 377 drones targeting Russian energy infrastructure and military sites, as factors supporting Oil prices. "As of March 11, global Oil demand averaged 102.2 million barrels per day, growing by 1.7 million barrels per day year-over-year and exceeding our projected monthly increase by 60,000 barrels per day," they noted.

• WTI price drifts higher to $67.40 in Thursday’s early Asian session. 
• Crude oil stockpiles in the US rose by 1.448 million barrels last week, according to the EIA. 
• Concerns over the US economic slowdown and Trump's aggressive tariffs on imports might weigh on the WTI. 

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $67.40 during the early Asian session on Thursday. The WTI price extends the rally amid tighter-than-expected oil inventories. However, the upside for the WTI price might be limited due to mounting fears of a US economic slowdown and the impact of tariffs on global economic growth.

Crude Oil inventories climbed last week. The US Energy Information Administration (EIA) weekly report showed crude oil stockpiles in the United States for the week ending March 7 increased by 1.448 million barrels, compared to a rise of 3.614 million barrels in the previous week. The market consensus estimated that stocks would increase by 2.1 million barrels. 

"This week, the oil build was smaller than expected and gasoline and diesel draws were larger than expected," noted Josh Young, Chief Investment Officer, Bison Interests. "This evidences stronger demand and could see oil prices rise as a result.”

Nonetheless, US President Donald Trump's aggressive tariffs on imports are expected to raise prices for businesses, boost inflation and undermine consumer confidence in a blow to economic growth. This, in turn, might drag the WTI price lower. The White House confirmed on Tuesday that fresh 25% tariffs on all imported steel and aluminum will still go into effect on Wednesday, including against allies and major US suppliers Canada and Mexico.

• WTI price may face challenges as demand concerns grow over a potential US economic slowdown.
• The dollar-denominated commodity found support from a weaker US Dollar.
• API report indicated that US crude oil stockpiles increased by 4.247 million barrels last week, following a 1.455-million-barrel previous decline.

West Texas Intermediate (WTI) Oil price gains ground for the second successive day, trading $66.40 during the European hours on Wednesday. However, Oil prices faced downward pressure amid rising demand concerns over a potential US economic slowdown and the impact of tariffs on global growth, which limited further gains.

However, a weaker US Dollar (USD) might have limited the downside for the Oil prices, driven by growing fears of an economic downturn in the United States (US). President Donald Trump referred to the economy as being in a "transition period," and investors interpreted these remarks as an early warning of potential instability.

Adding to market uncertainty, US stock prices continued to decline on Tuesday, extending the largest selloff in months as investors reacted to higher import tariffs and weakening consumer sentiment. With ongoing ambiguity surrounding tariff developments and persistent worries over US economic growth, Oil market sentiment remains cautious.

Meanwhile, a Houthi spokesperson announced late Tuesday that the group would target any Israeli vessel violating its ban on Israeli ships navigating through the Red and Arabian Seas, the Bab al-Mandab Strait, and the Gulf of Aden, effective immediately.

In the US, the latest American Petroleum Institute (API) report showed crude Oil stockpiles rose by 4.247 million barrels for the week ending February 28, following a 1.455-million-barrel decline the previous week. Analysts had expected an increase of 2.1 million barrels.

Additionally, the US joined other agencies in revising Oil market projections. The International Energy Agency (IEA) cut its 2025 surplus forecast and halved its estimated glut for next year due to anticipated declines in Iranian and Venezuelan crude output. The Energy Information Administration (EIA) also projected a decline in global Oil inventories in Q2 2025.

West Texas Intermediate (WTI) Oil price advances on Wednesday, early in the European session. WTI trades at $66.37 per barrel, up from Tuesday’s close at $66.33. Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $69.64 price posted on Tuesday, and trading at $69.68.

Disclaimer: West Texas Intermediate (WTI) and Brent oil prices mentioned above are based on FXStreet data feed for Contracts for Differences (CFDs).

(An automation tool was used in creating this post.)

• WTI price rebounds to around $66.25 in Wednesday’s early Asian session. 
• Softer USD and rising Middle East geopolitical tensions boost the WTI price.
• Crude oil stockpiles in the US rose by 4.247 million barrels last week, according to the API. 

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $66.25 during the early Asian session on Wednesday. The WTI price recovers some lost ground on the weakening in the US Dollar (USD) and escalating geopolitical tensions in the Middle East.  

A decline in the Greenback lifts the USD-denominated commodity price as it makes oil less expensive for overseas buyers. The US Dollar Index (DXY), a measure of the USD's value relative to its most significant trading partners' currencies, declines to new multi-month lows near 103.20. 

A Houthi spokesman said late Tuesday that they will attack any Israeli ship that violates the group's ban on Israeli ships passing through the Red and Arabian Seas, the Bab al-Mandab Strait, and the Gulf of Aden, effective immediately. 

Meanwhile, Trump is trying to choke off Iranian oil exports as part of his attempts to push Tehran to curtail its nuclear program. Iran's Supreme Leader, Ayatollah Ali Khamenei, said on Saturday that his country will not be bullied into negotiations. The rising geopolitical tensions in the Middle East could provide some support to the WTI price in the near term. 

Crude Oil inventories climbed last week. The American Petroleum Institute (API) weekly report showed crude oil stockpiles in the United States for the week ending February 28 rose by 4.247 million barrels, compared to a fall of 1.455 million barrels in the previous week. The market consensus estimated that stocks would increase by 2.1 million barrels. 

US President Donald Trump’s tariff policy uncertainty and the concern over the impact of tariffs on global economic growth might undermine the WTI price. Trump reversed his decision to double tariffs on Canadian steel and aluminum to 50%, which he announced late Tuesday. The White House confirmed that fresh 25% tariffs on all imported steel and aluminum will still go into effect on Wednesday, including against allies and major US suppliers Canada and Mexico.

• WTI price rebounds to around $66.25 in Wednesday’s early Asian session. 
• Softer USD and rising Middle East geopolitical tensions boost the WTI price.
• Crude oil stockpiles in the US rose by 4.247 million barrels last week, according to the API. 

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $66.25 during the early Asian session on Wednesday. The WTI price recovers some lost ground on the weakening in the US Dollar (USD) and escalating geopolitical tensions in the Middle East.  

A decline in the Greenback lifts the USD-denominated commodity price as it makes oil less expensive for overseas buyers. The US Dollar Index (DXY), a measure of the USD's value relative to its most significant trading partners' currencies, declines to new multi-month lows near 103.20. 

A Houthi spokesman said late Tuesday that they will attack any Israeli ship that violates the group's ban on Israeli ships passing through the Red and Arabian Seas, the Bab al-Mandab Strait, and the Gulf of Aden, effective immediately. 

Meanwhile, Trump is trying to choke off Iranian oil exports as part of his attempts to push Tehran to curtail its nuclear program. Iran's Supreme Leader, Ayatollah Ali Khamenei, said on Saturday that his country will not be bullied into negotiations. The rising geopolitical tensions in the Middle East could provide some support to the WTI price in the near term. 

Crude Oil inventories climbed last week. The American Petroleum Institute (API) weekly report showed crude oil stockpiles in the United States for the week ending February 28 rose by 4.247 million barrels, compared to a fall of 1.455 million barrels in the previous week. The market consensus estimated that stocks would increase by 2.1 million barrels. 

US President Donald Trump’s tariff policy uncertainty and the concern over the impact of tariffs on global economic growth might undermine the WTI price. Trump reversed his decision to double tariffs on Canadian steel and aluminum to 50%, which he announced late Tuesday. The White House confirmed that fresh 25% tariffs on all imported steel and aluminum will still go into effect on Wednesday, including against allies and major US suppliers Canada and Mexico.

West Texas Intermediate (WTI) Oil price advances on Tuesday, early in the European session. WTI trades at $65.95 per barrel, up from Monday’s close at $65.67. Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $68.99 price posted on Monday, and trading at $69.28.

Disclaimer: West Texas Intermediate (WTI) and Brent oil prices mentioned above are based on FXStreet data feed for Contracts for Differences (CFDs).

(An automation tool was used in creating this post.)

• WTI price could lose ground as tariff concerns could slow economic growth.
• President Donald Trump referred to the economy as being in a "transition period," hinting at a potential slowdown.
• Oil demand concerns rise due to deepening deflationary pressures in China, the world’s top Oil importer.

West Texas Intermediate (WTI) Oil price edges higher on Tuesday, trading around $65.90 per barrel during early European hours after experiencing losses in the previous session. However, crude Oil prices faced headwinds amid concerns that United States (US) tariffs could slow economic growth and reduce Oil demand.

Tariffs imposed—and later delayed—by US President Donald Trump on major oil suppliers, including Canada and Mexico, along with China’s retaliatory measures, have raised fears of a global economic slowdown. Both China and Canada have responded with their tariffs.

Ontario’s Premier Doug Ford announced that starting Monday, electricity prices for 1.5 million American homes and businesses will rise by 25% in retaliation for Trump’s trade policies. Meanwhile, China implemented retaliatory tariffs of up to 15% on select US agricultural products on Monday, following last week’s US tariff hike from 10% to 20% on Chinese imports.

Additionally, President Trump characterized the economy as being in a "transition period," hinting at a potential slowdown. Investors took his remarks as an early signal of possible economic turbulence in the near future.

Economic weakness in China, the world’s top Oil importer, further pressured crude prices. Recent data suggested deepening deflationary pressures despite government stimulus efforts, with February marking the sharpest decline in consumer prices in 13 months and the 29th consecutive monthly drop in factory-gate prices.

Russian Deputy Prime Minister Alexander Novak announced on Friday that the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, had agreed to start increasing Oil production in April. However, he cautioned that the decision could be reversed if market imbalances arise.

• WTI price extends its downside to near $65.45 in Tuesday’s early Asian session. 
• Fears of slow global economies and US tariffs weigh on the WTI price. 
• Possible sanctions against Iran and Russia from the US might help limit the WTI’s losses. 

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.45 during the early Asian session on Tuesday. The WTI price extends the decline amid concerns that US tariffs on Canada, Mexico and China would slow global economies and slash energy demand. 

US President Donald Trump issued an executive order last week exempting goods from both Canada and Mexico under a North American trade agreement, known as USMCA, while raising duties on Chinese goods. China retaliated against the US and Canada with tariffs on agricultural products. 

Continued policy uncertainty surrounding the Trump administration's trade policy and a probable global economic slowdown that could curtail oil demand are likely to undermine the WTI price in the near term.  "There are recession talks for the U.S. and it's very concerning for the macro picture,” said John Kilduff, partner with Again Capital in New York.

On the other hand, possible sanctions against Iran and Russia from the US could provide support for the WTI price. Trump is trying to choke off Iranian oil exports as part of his attempts to push Tehran to curtail its nuclear program. Iran's Supreme Leader, Ayatollah Ali Khamenei, said on Saturday that his country will not be bullied into negotiations.  

West Texas Intermediate (WTI) Oil price advances on Monday, early in the European session. WTI trades at $66.87 per barrel, down from Friday’s close at $66.84. Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $70.18 price posted on Friday, and trading at$70.25.

Disclaimer: West Texas Intermediate (WTI) and Brent oil prices mentioned above are based on FXStreet data feed for Contracts for Differences (CFDs).

(An automation tool was used in creating this post.)

• WTI remains on the defensive around $66.45 in Monday’s early European session.
• Trump’s tariff threats continue to undermine the WTI price. 
• Softer Chinese CPI inflation contributes to the WTI’s downside. 

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $66.45 during the early European session on Monday. The WTI price remains under selling pressure amid concern about the impact of US import tariffs on global economic growth and the risk-off mood. 

US President Donald Trump issued an executive order last week exempting goods from both Canada and Mexico under a North American trade agreement, known as USMCA, while raising taxes on Chinese goods. China retaliated against the US and Canada with tariffs on agricultural products, per Reuters. The tariffs were announced by the Commerce Ministry and scheduled to take effect on March 20. Tariff uncertainty under the Trump administration continues to undermine the WTI price in the near term. 

Concerns about US growth also weigh on the WTI price. The US February Nonfarm Payrolls (NFP) data came in weaker than expected, suggesting that the Federal Reserve (Fed) remained on track to cut interest rates multiple times this year. Traders pushed their bets on a start to Fed rate cuts to June, from May before the report, but still expect a total of three cuts in 2025.

Weak economic data from China contributes to the WTI’s downside as China is the top consumer of oil in the world. Data released by the National Bureau of Statistics (NBS) on Sunday showed that China's CPI in February missed expectations and fell at the sharpest pace since January 2024. The CPI fell 0.7% in February from a year earlier, reversing January's 0.5% increase.  

• WTI edges lower amid worries that Trump’s trade tariffs would impact fuel demand.
• OPEC+ will proceed with oil output hikes from April, further weighing on Oil prices.
• Trump’s threat to impose more sanctions on Russia and a weaker USD lend support.

West Texas Intermediate (WTI) US Crude Oil prices struggle to capitalize on Friday's modest gains and attract fresh sellers at the start of a new week. The commodity currently trades just below mid-$66.00s, down nearly 0.60% for the day, and seems vulnerable to slide further.

Investors remain worried about the potential economic fallout from US President Donald Trump's trade tariffs and their impact on fuel demand. Furthermore, the Organization of the Petroleum Exporting Countries and its allies – collectively known as OPEC+ – said it will proceed with oil output hikes from April. This, in turn, is seen as a key factor weighing on Crude Oil prices. 

The downside for the black liquid, however, seems limited in the wake of Trump's warning that the US would increase sanctions on Russia if the latter fails to reach a ceasefire with Ukraine. However, two people familiar with the matter told Reuters that the US is also studying ways to ease sanctions on Russia’s energy sector if the latter agrees to end its prolonged war with Ukraine.

Meanwhile, the weaker US jobs report released on Friday reaffirmed market bets that the Federal Reserve (Fed) remains on track to cut interest rates multiple times this year. This keeps the US Dollar (USD) depressed near its lowest level since November, which should act as a tailwind for USD-denominated commodities and contribute to limiting losses for Crude Oil prices.

West Texas Intermediate (WTI) Oil price advances on Friday, early in the European session. WTI trades at $66.93 per barrel, up from Thursday’s close at $65.99. Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $69.20 price posted on Thursday, and trading at $70.06.

Disclaimer: West Texas Intermediate (WTI) and Brent oil prices mentioned above are based on FXStreet data feed for Contracts for Differences (CFDs).

(An automation tool was used in creating this post.)

• WTI price remains under pressure around $66.00 in Friday’s early Asian session.
• Rising US inventories and plans to increase OPEC+ output weigh on the WTI price. 
• Oil traders brace for the US February employment report on Friday for fresh impetus.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $66.00 during the early Asian session on Friday. The WTI price remains on the defensive near a three-year low as traders are concerned about the impact of tariffs between the US, Canada, and China and plans by OPEC+ to raise output.

US President Donald Trump issued an executive order earlier in the day exempting goods from both Canada and Mexico under a North American trade agreement, known as USMCA, for a month from the 25% tariffs that he slapped earlier this week. However, tariff uncertainty under the Trump administration continues to undermine the WTI price.

A larger-than-expected build in US crude inventories further pressured the black gold. Crude oil stockpiles in the United States for the week ending February 28 rose by 3.614 million barrels, compared to a fall of 2.332 million barrels in the previous week, according to the Energy Information Administration (EIA) weekly report.  The market consensus estimated that stocks would decrease by 290,000 barrels. 

OPEC+, the Organization of the Petroleum Exporting Countries and allies including Russia, decided to increase output for the first time since 2022. This, in turn, drags the black gold price lower. Downside risks on demand will likely be greater than supply-side risks at this point with the additional oil coming from OPEC, said Scott Shelton, energy analyst at TP ICAP.

Oil traders will closely watch the release of the US employment report for February on Friday, including Nonfarm Payrolls (NFP), Unemployment Rate and Average Hourly Earnings. If the report shows a weaker-than-expected outcome, this could exert some selling pressure on the Greenback and lift the USD-denominated commodity price in the near term. 

• WTI price declines as bearish market sentiment persisted amid concerns over OPEC+’s decision to raise output.
• The OPEC+’s production increase of 138,000 barrels per day marks its first rise since 2022.
• The latest EIA report showed US crude Oil stockpiles grew by 3.614 million barrels for the week ending February 28.

West Texas Intermediate (WTI) crude Oil price extends its losing streak for the fifth successive day, trading around $66.00 per barrel during European trading hours on Thursday. However, crude Oil found some support following comments from a US official suggesting that President Donald Trump may consider removing the 10% tariff on Canadian energy imports that comply with trade agreements.

The Oil price faces challenges as market sentiment remained bearish amid concerns over OPEC+’s decision to increase output. The alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC), Russia, and other partners, confirmed its plan to boost production in April. This move follows renewed pressure from President Trump on OPEC and Saudi Arabia to lower Oil prices. According to Reuters calculations, the production increase amounts to 138,000 barrels per day, marking the first rise from OPEC+ since 2022.

Market strategist Yeap Jun Rong of IG told Reuters, "The sharp dip in Oil prices below the key $70.00 level may prompt a slight breather in today's session, as technical conditions attempt to stabilize from oversold territory." However, he noted that "recovery momentum remains fragile, with unfavorable supply-demand dynamics weighing on bullish sentiment."

Meanwhile, data from the US Energy Information Administration (EIA) showed that crude inventories rose more than expected, reinforcing concerns about oversupply. The weekly report showed that US crude Oil stockpiles rose by 3.614 million barrels for the week ending February 28, reversing the previous week’s decline of 2.332 million barrels. This buildup exceeded market expectations, which had projected a decrease of 290,000 barrels.

West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $66.41 per barrel, up from Wednesday’s close at $66.22. Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $69.33 price posted on Wednesday, and trading at $69.50.

Disclaimer: West Texas Intermediate (WTI) and Brent oil prices mentioned above are based on FXStreet data feed for Contracts for Differences (CFDs).

(An automation tool was used in creating this post.)

• WTI price remains under selling pressure around $66.45 in Thursday’s early Asian session.
• Crude oil stockpiles in the US rose by 3.614 million barrels last week, according to the EIA.
• Fear that Trump’s trade war will slow economic activity and cut crude demand undermines the WTI price. 

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $66.45 during the early Asian session on Thursday. The WTI price tumbles to its lowest since December 2021 as  US crude oil stockpiles the US rose far more than expected. 

Crude Oil inventories climbed last week. The Energy Information Administration (EIA) weekly report showed crude oil stockpiles in the United States for the week ending February 28 rose by 3.614 million barrels, compared to a fall of 2.332 million barrels in the previous week. The market consensus estimated that stocks would decrease by 290,000 barrels. 

The OPEC+ announcement to maintain their production increase plan from April weighs on the WTI price. OPEC+, the Organization of the Petroleum Exporting Countries and allies including Russia, decided to increase output for the first time since 2022 

Furthermore, Oil traders are concerned that the tariffs on Canadian, Mexican, and Chinese goods that went into effect yesterday could slow growth, creating headwinds for WTI price. 

Trump confirmed that tariffs on Canada and Mexico would go into effect on Tuesday. The measures Trump had previously reaffirmed the new March date after having initially set it for April. However, Trump is exempting automakers from newly imposed tariffs on Mexico and Canada for one month.