WTI Crude Oil Price OutlookWest Texas Intermediate (WTI) crude oil prices declined sharply in recent weeks and hit an over one-year low of USD 44.5 per barrel on 27 December. Afterwards, however, prices for the black gold started to recover. WTI crude oil prices traded at USD 51.4 per barrel on 11 January, which was down 0.4% from the same day last month. Although the price was down 19.4% from the same day last year, it was 13.9% higher on a year-to-date basis. The price for WTI crude prices plummeted since U.S. President Donald Trump announced waivers for eight countries to continue purchasing Iranian oil in early November. Moreover, the United States continued to pump oil at record levels in recent months, reaching an average of 11.7 million barrels per day in the week ending 4 January. However, recent news that China–U.S. trade talks were progressing, coupled with reduced supply by OPEC+ members, boosted prices since the start of the year. In a sign that the U.S. economy could be cooling, U.S. crude oil stockpiles decreased less than expected in the week to 4 January, while inventories of refined products surged in the same period.
WTI Crude Oil Price History Data (USD per barrel, aop)
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Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
WTI Crude Oil Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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