WTI Oil Prices
Welcome to browse the page of WTI Crude Oil Price 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. WTI Crude Oil Price is a grade of crude oil that served as a benchmark in oil pricing, therefore, it is essential to take attention to the prices of WTI crude oil.
WTI Crude Oil Price Per Barrel
WTI Crude Oil Price
72.67 US Dollar +0.84 (+1.17%)
Prev. Close: $71.83
Day's Range: $71.49 - $73.05
Prices Updated: May 28, 2023 at 19:18 NY Time
WTI Oil Price Chart
WTI Oil Prices In US Dollar
|WTI Oil||US Dollar||US Dollar||WTI Oil|
|1 Barrel||72.67 USD||1 USD||0.01376 Barrel|
|2 Barrel||145.34 USD||2 USD||0.02752 Barrel|
|5 Barrel||363.35 USD||5 USD||0.0688 Barrel|
|10 Barrel||726.7 USD||10 USD||0.13761 Barrel|
|20 Barrel||1453.4 USD||20 USD||0.27522 Barrel|
|25 Barrel||1816.75 USD||25 USD||0.34402 Barrel|
|50 Barrel||3633.5 USD||50 USD||0.68804 Barrel|
|100 Barrel||7267 USD||100 USD||1.37608 Barrel|
|1000 Barrel||72670 USD||1000 USD||13.76084 Barrel|
WTI Crude Oil
West Texas Intermediate (WTI), also known as Texas light sweet, represents local fundamentals for crude oil in the U.S. and is sent via pipeline to Cushing, Oklahoma. It is described as light and sweet crude oil because of its relatively low density and low sulfur content. It is a grade of crude oil used as a benchmark in oil pricing and an underlying commodity of New York Mercantile Exchange's oil futures contracts. WTI is a light crude oil with API gravity of around 39.6 and specific gravity of about 0.827. It also is a sweet crude oil that contains approximately 0.24% of sulfur. WTI crude oil is lighter and sweeter than Brent blend. It is suitable for refining gasoline and other high-demand products. Due to its high-quality fuel and production within the country, WTI is refined mostly in the Midwest and Gulf Coast regions in the United States.
WTI Crude Futures
WTI crude futures and options are the world's most actively traded energy product. It began futures trading on the NYMEX in 1983 with the symbol CL. WTI crude futures are also traded on the Intercontinental Exchange (ICE) with the symbol T and priced in dollars and cents per barrel. One contract equals 1,000 barrels (159 m3). Each tick lost or gained equals $10.
What Factors Determine Oil Prices?
Crude oil as a commodity, its futures are the world's most actively traded commodity. There are large numbers of factors influencing the crude oil prices and the prices of WTI crude oil futures, such as global macroeconomic conditions, political, war, market speculation, production costs, supply and demand, the value of the U.S. Dollar, and so on. Such as the Iraqi invasion of Kuwait in 1990, the average monthly price of oil rose from $17 per barrel in July to $36 per barrel in October.