Texas Crude Oil Price Today: WTI, Eagle Ford & Sour Guide

• Texas crude oil price benchmarks eased over the month to early October, with NYMEX WTI futures down 0.4% on September to $91.11 per barrel and posted regional grades slipping by $0.19-$0.50 per barrel.
• North Texas Sweet and East Texas Sweet fell furthest, down 0.57% and 0.59% to $87.25 and $84.50, while West Texas Sour and Eagle Ford each slipped 0.22% to $86.09 and $87.59.
• As of early September, Washington and Tehran gave sharply conflicting accounts of Strait of Hormuz control: the US claimed convoys of 30-40 escorted ships moving up to 18 million barrels of oil daily, while independent ship-tracking data from Kpler and Lloyd’s List put actual daily transits closer to 12-13 vessels, against a pre-war baseline of around 100 ships and 20 million barrels a day.
• The gap between NYMEX WTI futures and posted West Texas Intermediate has narrowed to $3.52 per barrel, down from $3.70 a month earlier and more than $5 in early August.
• The EIA’s July 2026 Short-Term Energy Outlook forecast WTI averaging $71.06 per barrel in Q3 2026; current futures remain well above that range.

Texas crude oil price benchmarks eased over the past month, with NYMEX WTI futures down 0.4% on September to $91.11 per barrel as of 4 October 2026. West Texas Intermediate (WTI), the national benchmark most closely tied to Texas production, traded at $91.11 per barrel on the futures market, while posted prices across the Permian, Eagle Ford and Gulf Coast held close behind, narrowing the usual gap between exchange-traded and wellhead pricing further.

Current Texas Crude Oil Price

Price data sourced from OilPrice.com, which compiles NYMEX futures pricing alongside posted prices paid by midstream companies for regional grades. Month-on-month changes compare 4 October 2026 with the 6 September 2026 update.

The gap between NYMEX WTI futures and the regional “West Texas Intermediate” posted price reflects the difference between the exchange-traded benchmark and wellhead prices offered by gathering and marketing companies, which typically settle at a modest discount. That gap stood at $3.52 per barrel on 4 October, down from $3.70 a month earlier, continuing the tightening trend seen since early August.

Texas Crude Oil Price History

Granular monthly postings for individual Texas grades are not published on a consistent public basis; the closest tracked proxy is the national WTI benchmark against which Texas grades price at a differential.

What Is Driving Texas Crude Oil Prices

Texas remains the largest producing state in the country, with the Permian Basin alone pumping several million barrels per day and anchoring national supply. That production base has kept Texas grades well-supplied even as benchmark prices have swung sharply over the past year.

The Strait of Hormuz remained severely restricted into early September, more than six months after the conflict began, though the two sides dispute by how much. US officials, cited by Al Jazeera, claim daily convoys of 30-40 ships moving 10-18 million barrels of oil under naval escort, with President Trump describing the waterway as under US control after CENTCOM claimed to have cleared its transit lanes of mines.

Independent ship-tracking tells a different story: Kpler recorded a 10-day average of 13 vessel transits, and Lloyd’s List Intelligence logged roughly 12 a day between 26 August and 1 September, both far short of the US figures and the pre-war baseline of around 100 ships daily.

Iran maintains it retains control and will only permit pre-approved vessels through designated channels, and the standoff remains hazardous rather than settling: the IRGC has reported tankers disabled by mines on what it calls an illegal route, and Saudi Arabia has accused Iran of a tanker attack that killed two Filipino crew. The Joint Maritime Information Center’s 1 September advisory rated the strait’s risk level “severe,” citing continued mine risk, and described commercial traffic as still far below baseline despite a modest recent uptick. For the storage fallout, see our analysis of the Hormuz crisis oil storage impact.

Posted regional grades have continued to hold close to the NYMEX futures benchmark, with the spread narrowing to $3.52 per barrel from $3.70 in early September and the wider gap seen in early August. The EIA’s Short-Term Energy Outlook, published July 7, forecast WTI averaging $71.06 per barrel in the third quarter of 2026. Current futures remain well above that range.

Texas Crude Oil Storage Economics

Elevated prices tied to an active, unresolved supply-risk premium continue to support demand for precautionary storage. With shipping through Hormuz still severely disrupted and both sides trading accusations of tanker attacks and mine strikes, the picture remains hazardous rather than moving toward a clear outcome. For Permian and Gulf Coast terminal operators, that uncertainty tends to favour flexible short-tenor ullage bookings over long-term contracted capacity until the standoff shows a firmer direction.

Terminal capacity tied to Permian gathering and takeaway remains a key pressure valve during periods of price volatility. The Gibson Wink Terminal in the Permian Basin feeds directly into the Gulf Coast storage and export complex that absorbs swings in Texas crude output.

Pipeline systems such as the BridgeTex Pipeline, which connects the Permian to Houston, carry that crude to the coast and into the same storage network.

Gulf Coast tank terminal capacity around Houston’s Ship Channel is the primary outlet for Texas grades reaching export markets, and lease rate demand there tends to firm whenever price volatility pushes buyers toward flexible short-tenor storage rather than long-term contracted capacity.

Texas Crude Oil Price by Region

Texas grades trade at a consistent discount to international benchmarks, and that discount widened sharply this month: Texas grades eased while Brent, Dubai and the OPEC Basket all rose, taking the Brent-WTI spread to $11.14 per barrel from $4.80 in early September. A spread of that size typically supports export demand through Gulf Coast terminals.

Texas Crude Oil Price in Different Currencies

Exchange rates are mid-market rates as at 4 October 2026. Figures rounded to two decimal places.

Chinese buyers reference the CNY rate for import planning, India’s growing crude import market watches the INR figure, and Rotterdam and ARA hub buyers use the EUR conversion.

Texas Crude Oil Price Per Unit

Texas Crude Oil Price Outlook

Near-term, the EIA’s July 2026 Short-Term Energy Outlook — published July 7 — forecast WTI averaging $71.06 per barrel in Q3 2026 and $66.00 per barrel in Q4 2026. Futures have held well above that range through the third quarter, a gap that has yet to close.

Medium-term, the same outlook put full-year 2026 WTI at $76.26 per barrel on average, a figure current pricing continues to run ahead of.

For storage operators, the outlook remains tied to how the Hormuz standoff develops. A verified reduction in mine risk and tanker attacks would likely pull prices back toward the EIA’s forecast range, while further escalation, such as additional attacks on shipping, could push them higher still. Terminal operators with flexible, uncommitted tankage along the Gulf Coast remain best positioned to respond either way.