The increased focus on renewable energy is already accelerating such changes. Today’s live Brent crude oil spot price is at $81.11 per barrel. That’s up by 0.15% from the price of $80.99 per barrel one week ago. WTI crude oil trades from Sunday through to Friday, 5 PM to 4 PM CT. https://www.topforexnews.org/brokers/gridley-ca-equipment-rental-locations/ 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 crude oil’s spot price was at $77.52 per barrel one month ago. Compared to today’s price of $81.11 per barrel, the price is up by 4.63%. Exactly one month ago, Brent crude oil’s spot price was at $82.73 per barrel. Day trading mutual funds Compared to today’s price of $85.70 per barrel, the price is up 3.59%. From time to time new oil resources come online — like Canadian oil sands or US crude oil from oil shale — these add to the global supply.
W&T Offshore’s stock was trading at $3.26 at the beginning of 2024. Since then, WTI shares have decreased by 22.1% and is now trading at $2.54. The Cushing hub delivery system https://www.forex-world.net/stocks/biontech/ consists of 35 (20 inbound and 15 outbound) pipelines and 16 storage terminals. The hub has 90 million barrels of storage capacity and accounts for 13% of U.S. oil storage.
1 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for W&T Offshore in the last twelve months. The consensus among Wall Street analysts is that investors should “buy” WTI shares. The highest ever historical WTI crude oil price was at $141.63 per barrel. Other significant recent historical highs include $77.74 per barrel in Jul, 2006 and $109.50 per barrel in Aug, 2013.
- W&T Offshore, Inc. was founded in 1983 and is headquartered in Houston, Texas.
- This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.57%.
- On average, they expect the company’s share price to reach $7.90 in the next twelve months.
- For example, you can see that Brent crude oil spot prices are quoted by the barrel (bbl), as are West Texas Intermediate (WTI) oil prices on global futures exchanges like NYMEX.
West Texas Intermediate (WTI) crude oil is a specific grade of crude oil and one of the main three benchmarks in oil pricing, along with Brent and Dubai Crude. WTI is known as a light sweet oil because it contains less than 0.50% sulfur (normally about 0.24% to 0.34%), making it “sweet,” and has a low density making it “light.” An easy way to get breaking news about the crude oil market is to create a Google Alert which will email you top news stories about oil as they occur. Read on to learn more about the live crude oil price you see historically, or on active trading days. WTI crude oil also opened 2021 with an uptrend at $48.27 per barrel.
Today’s Oil Price: Brent Crude & WTI Oil Prices Today
WTI is not the most commonly used benchmark globally, that honor goes to Brent, where two-thirds of oil contracts globally use Brent as a benchmark. Both, however, are considered high-quality oils and are therefore the two most important oil benchmarks in the world. As mentioned, WTI has a sulfur content between 0.24% and 0.34%, whereas Brent has a sulfur content between 0.35% to 0.40%. The lower the sulfur content of an oil, the easier it is to refine, making it more attractive. Both benchmark oils are considered sweet, but WTI is sweeter making it a bit easier to refine. 1 Wall Street research analysts have issued 1 year price targets for W&T Offshore’s shares.
About W&T Offshore Stock (NYSE:WTI)
Today’s WTI crude oil spot price of $81.11 per barrel is up 0.15% compared to one week ago at $80.99 per barrel. Oil prices are typically quoted per barrel — this is the same for the Brent crude oil spot price. Today’s Brent crude oil spot price is at $85.70 per barrel, down by 0.53% from the previous trading day. In comparison to one week ago ($85.71 per barrel), Brent oil is down 0.01%.
How To Set Up Google Alerts For Oil Price News
Since the shale boom in the U.S., which resulted in a production increase of WTI, the price of WTI has gone down and usually trades at a discount to Brent. Brent is also tied to more worldwide oil markets and serves as an international benchmark, meaning that more factors are influencing its price. Furthermore, transporting WTI overseas to Brent crude’s market could come at a cost that would make WTI unable to compete with Brent crude in terms of pricing.
New sources can exert a downward force on oil prices, even in times of heavy demand. The significance of a benchmark in the oil market is that benchmarks serve as a reference price for buyers and sellers of crude oil. Oil benchmarks are frequently quoted in the media as the price of oil. Though Brent crude and WTI crude are the most popular benchmarks, their prices are often contrasted. The difference in price between Brent and WTI is called the Brent-WTI spread.
In Brent crude oil’s instance, these reserves are under the seafloor, while WTI crude oil is extracted from reserves located under dry land. That’s the first component of oil prices — the extraction process and machinery required. Theoretically, WTI crude should trade at a premium to Brent crude, given the quality, but this is not always the case.
At local time on Sundays for your chosen exchange, you’ll almost certainly get the last Brent crude oil spot price that the market closed with. 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. For example, you can see that Brent crude oil spot prices are quoted by the barrel (bbl), as are West Texas Intermediate (WTI) oil prices on global futures exchanges like NYMEX. Technological developments and changes in resource distributions along the oil supply chain will also impact crude oil spot prices.