Today’s WTI crude oil spot price of $75.73 per barrel is down 2.02% compared to one week ago at $77.29 per barrel. Today’s Brent crude oil spot price is at $80.95 per barrel, down by 2.23% from the previous trading day. In comparison to one week ago ($82.48 per barrel), Brent oil is down 1.85%. However, because you can speculate on the price of oil rising and falling with CFDs, there is no one ‘best’ time to trade oil because you have the opportunity to profit from both rising and falling markets. Oil is the bedrock of the global economy, and fluctuations in its price can have widespread economic effects. Read on to discover the trading times of different oil markets, as well as how you can trade oil today.
- The Brent contract for March settled at $81.71 a barrel, down $1.16 or 1.40%.
- Lithium miners are issuing profit warnings amid a prolonged price drop of the commodity.
- Any supply increases will surely cause the price to fall – with consistent demand.
- Saudi Arabian oil is neither WTI, extracted in the U.S., nor Brent, extracted in the North Sea near Europe.
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OIL HIGHLIGHTS
Anyone can buy or sell popular oil stocks simply by opening and funding a standard brokerage account. WTI crude is a blend of oils extracted from U.S. oilfields in Texas, North Dakota and Louisiana and is delivered to Cushing, Oklahoma. Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction. Investments in artificial intelligence and energy storage sectors saw substantial increases in 2024, highlighting a strategic shift towards these key areas in the future economy. Atlas Energy Inc.’s Dune Express, a revolutionary conveyor belt system, is set to significantly improve sand transport efficiency and reduce environmental impact in the Permian Basin’s oil fracturing industry. Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.
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There are dozens of other energy-based products offered through NYMEX, with the vast majority attracting professional speculators but few private traders or investors. 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. Brent crude is oil extracted from the Brent, Ekofisk, Forties and Oseberg oil fields. Brent has an API gravity of 38 degrees and a sulfur content of 0.4%, making it slightly heavier and less sweet than WTI. Brent is typically used as a benchmark for international oil markets, such as markets in the Middle East, Europe and Africa.
Oil prices posted the first monthly gain since September as the U.S. and Iran stand on the brink of a more direct confrontation in the Middle East. Tensions also remain high in the Middle East as Houthi militants attacked a U.S.-flagged container ship transiting the Gulf of Aden on Wednesday. The U.S. launched airstrikes against the Houthis in Yemen and Iran-allied militants in Iraq this week.
Crude Oil, Product Inventories Fall, Boosting Prices Further
You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. You can trade oil spot prices non-stop from 11pm on Sundays to 10pm on Fridays (UK time). Our oil futures on US crude and no lead gasoline are available for nearly 24 hours a day, five days a week – except from 10pm to 11pm – and other oil futures trade from 1am to 11pm (UK time). On an international level there are a number of different types of crude oil, each of which have different properties and prices.
We receive compensation from the companies that advertise on Blueprint which may impact how and where products appear on this site. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Blueprint. Blueprint does not include all companies, products or offers that may be available to you within the market.
Oil companies and sector funds offer diverse industry exposure, with production, exploration, and oil service operations presenting different trends and opportunities. While the majority of companies track general crude oil trends, they can diverge sharply for long periods. These counter-swings often occur when equity markets are trending sharply, with rallies or selloffs triggering cross-market correlation that promotes lockstep behavior between diverse sectors. WTI crude oil and international Brent crude oil are influenced by several factors that can change the market’s supply and demand balance. The highest ever historical WTI crude oil price was at $141.63 per barrel.
Brent crude fell to its 52-week low of $68.20 per barrel on May 3, 2023. WTI crude fell to its 52-week low of $64.00 per barrel on May 3, 2023. Blueprint is an independent, advertising-supported comparison service focused on helping readers make smarter decisions.
Natural disasters and geopolitical conflicts worldwide can disrupt production and create oil supply shortages. The U.S. and global economies experience much higher industrial energy demand during periods of strong economic growth and lower demand during economic downturns. Finally, the Organization of the Petroleum Exporting Countries can significantly alter global crude oil supplies by increasing or cutting production. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
China to Refill Oil Reserves Following 2023 Drawdown
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. In December 2005 the global demand for crude oil was 83.3 million barrels per day according to the International Energy Agency (IEA) and this will continue to rise further. In December 2005 the global demand for crude oil was 83.3 million barrels per day according to the International financial instrument types Energy Agency (IEA) and will rise further. IG offers spread betting and CFD trading on spot crude, oil futures and daily US crude options. You can find more information about our daily, weekly and monthly options offering on our dedicated options trading page. Many of CME Group’s New York Mercantile Exchange (NYMEX) futures contracts track the WTI benchmark, with the “CL” ticker attracting significant daily volume.
These are standardized products used to determine the prices for all other types. The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. 70% of retail client accounts lose money when trading CFDs, with this investment provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Brent crude futures were steady on Friday as traders kept their powder dry ahead of an OPEC+ meeting that could bring agreement on further supply cuts. 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. U.S. law dating back to the Arab oil embargo in the 1970s aggravated this division, prohibiting local oil companies from selling their inventory in overseas markets. The Japanese Yen remains confined in a range and is influenced by a combination of factors. Softer domestic data undermines the JPY amid a modest pickup in demand for the US Dollar.