The WTI crude price stands at $91.11 per barrel, down 0.40% over the past month and up 51.75% year-to-date. WTI has lagged the rest of the complex this month: Brent rose 6.2% to $102.25, widening the WTI-Brent spread to -$11.14 from -$4.80, while Dubai crude now trades at a $22.60 premium to WTI and the Urals quote has moved to a $14.44 premium, reversing the typical discount seen last month.
Current WTI Crude Price
| Benchmark | Price ($/barrel) | Change (Month) | As of |
|---|---|---|---|
| WTI Crude (NYMEX front month) | $91.11 | -0.40% | 4 October 2026 |
| WTI Month-on-month change | -0.40% | — | 4 October 2026 |
| WTI Year-to-date change | +51.75% | — | 4 October 2026 |
| Brent Crude (ICE) | $102.25 | +6.20% | 4 October 2026 |
| WTI-Brent Spread | -$11.14 | -$6.34 | 4 October 2026 |
| Louisiana Light Sweet | $102.02 | +4.48% | 3-day delay reading |
| Urals (Russia) | $105.55 | +21.74% | 3-day delay reading |
WTI crude price data sourced from OilPrice.com. Official WTI settlement prices are published by NYMEX (CME Group). Prices shown reflect the front-month futures contract for delivery at Cushing, Oklahoma. Month-on-month changes compare with the 6 September 2026 update.
WTI Crude Price History
The WTI crude price was little changed over the month to early October, easing 0.40% to $91.11 even as Brent rose 6.2%. That follows the 17.87% climb of the previous month from $77.61 in early August, when WTI had retreated sharply from April’s highs.
| Month | WTI Spot ($/barrel) | Brent Spot ($/barrel) |
|---|---|---|
| 4 October 2026 | $91.11 | $102.25 |
| 6 September 2026 | $91.48 | $96.28 |
| 4 August 2026 | $77.61 | $81.57 |
| 1 July 2026 | $70.56 | $70.46 |
| June 2026 | ~$70–$93 (sharp intra-month decline) | ~$70–$95 |
| May 2026 | $102.13 | $107.14 |
| April 2026 | $100.32 | $117.29 |
| March 2026 | $91.38 | $103.13 |
| February 2026 | $64.51 | $70.89 |
| January 2026 | $60.04 | $66.60 |
| Year | WTI Annual Avg ($/barrel) | Notes |
|---|---|---|
| 2026 | ~$84 (Jan–Aug avg, provisional) | Hormuz spike, sharp reversal, then sustained re-escalation through Q3; exceptionally volatile year |
| 2025 | $65.76 | Gradual decline from 2024 highs |
| 2024 | $76.55 | Post-conflict stabilisation |
| 2023 | $77.62 | OPEC+ cuts supporting floor |
| 2022 | $94.53 | Russia-Ukraine war supply shock |
| 2021 | $68.07 | Post-COVID demand recovery |
| 2020 | $39.17 | COVID collapse; briefly negative April 2020 |
What Is Driving the WTI Crude Price
The dominant driver of the WTI crude price through 2026 remains the Strait of Hormuz situation, which as of early September was six months into the conflict. The Strait remained severely restricted rather than fully closed: US officials claimed daily convoys of 30-40 escorted ships moving up to 18 million barrels of oil, while independent ship-tracking data from Kpler and Lloyd’s List put actual daily transits at roughly 12-13 vessels, a fraction of 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 had reported tankers disabled by mines on routes it calls illegal; Saudi Arabia separately accused Iran of a tanker attack that killed two crew.
Freight costs affecting Russian crude exports continue adding pressure across the broader crude complex. Ukrainian strikes on Russian Black Sea shipping and domestic refineries kept Novorossiysk export volumes constrained, with September loading schedules trimmed roughly 4% versus August, a dynamic covered in more detail on OGSN’s Urals oil price page.
The WTI-Brent spread has widened to -$11.14 from -$4.80 a month ago, close to the $11.75 gap recorded in March, as Brent rose 6.2% while WTI eased 0.40%. The Urals quote has moved to a $14.44 premium to WTI and Dubai to a $22.60 premium, though both are delayed physical quotes that may overstate the gap. According to the IEA Oil Market Report, global oil demand growth projections for the second half of 2026 remain sensitive to how durable the current elevated pricing proves to be.
WTI Crude Price Storage Economics
The WTI crude price has a uniquely direct relationship with storage economics because its delivery point, the Cushing Hub in Oklahoma, is one of the world’s most important crude oil storage facilities. Cushing is connected to an extensive network of pipelines serving US Gulf Coast refineries, and its storage capacity of approximately 90 million barrels acts as a physical barometer of US crude supply and demand balance.
When Cushing storage fills, WTI typically trades at a deeper discount to Brent as landlocked crude has limited export options. The current -$11.14 spread is much wider than a month ago; confirming whether Cushing inventory levels explain it, versus Brent and Gulf grades repricing on supply risk while WTI held flat, requires checking current EIA weekly storage data directly rather than inferring it from price alone. For crude oil storage operators connected to the Cushing hub, this dynamic creates direct commercial exposure to the WTI-Brent spread.
The same exposure applies to tank terminal operators along the pipeline routes feeding Cushing and the Gulf Coast export complex.
This page’s forward curve data cannot be kept current from the same benchmark feed used elsewhere on this page, since it requires futures strip pricing (specific December 2026 and December 2027 contract levels) rather than front-month spot prices. For the live NYMEX WTI forward curve, check CME Group’s WTI futures product page directly.
Oil storage terminal operators using the curve to assess contango or backwardation should pull current data from CME rather than relying on a figure quoted here.
WTI Crude Price by Region
The WTI crude price serves as the primary benchmark for North American crude oil, with the Cushing, Oklahoma delivery point connecting major US producing regions to Gulf Coast refining centres. Middle East grades are covered on OGSN’s Middle East oil price page.
| Benchmark | Price ($/barrel) | Region | Premium / Discount to WTI |
|---|---|---|---|
| WTI (NYMEX, Cushing) | $91.11 | North America | Benchmark |
| Louisiana Light Sweet | $102.02 | US Gulf Coast | +$10.91 premium |
| Brent Crude (ICE) | $102.25 | Global / North Sea | +$11.14 premium |
| Dubai | $113.71 | Middle East | +$22.60 premium |
| Urals (Russia) | $105.55 | Russia / FSU | +$14.44 premium — a reversal from last month’s $4.78 discount (3-day delayed quote) |
WTI Crude Price in Currency
| Currency | Price per Barrel | Exchange Rate Used |
|---|---|---|
| US Dollar (USD) | $91.11 | Benchmark |
| Euro (EUR) | €80.92 | 0.88821 |
| British Pound (GBP) | £68.80 | 0.75514 |
| Japanese Yen (JPY) | ¥14,382.62 | 157.86 |
| Chinese Yuan (CNY) | ¥611.01 | 6.7063 |
| Indian Rupee (INR) | ₹8,767.70 | 96.232 |
Exchange rates are mid-market rates as at 4 October 2026. Figures rounded to two decimal places.
WTI Crude Price Per Barrel, Litre and Metric Tonne
| Unit | WTI Price | Notes |
|---|---|---|
| Per barrel (bbl) | $91.11 | Standard NYMEX benchmark unit; 1 barrel = 158.987 litres |
| Per litre | $0.573 | $91.11 ÷ 158.987 |
| Per US gallon | $2.169 | $91.11 ÷ 42 gallons per barrel |
| Per metric tonne | $663.28 | Based on WTI density ~7.28 bbl/tonne |
| Per cubic metre | $573.06 | 1 cubic metre = 6.2898 barrels |
WTI Crude Price Outlook
The EIA Short-Term Energy Outlook had projected WTI crude to average between $75 and $85 per barrel in the second half of 2026, contingent on a sustained Hormuz resolution. WTI at $91.11 still sits above that range, having climbed through it during August and held above it into October, as the Hormuz situation remained unresolved in the latest shipping reports.
Chinese demand weakness and rising non-OPEC supply from US shale and Brazil remain structural headwinds, though they have not been enough to offset the sustained geopolitical risk premium through Q3. For a current read on market structure, the NYMEX forward curve should be checked directly against CME data rather than a figure quoted here, given how far spot prices have moved since this page’s last confirmed curve reading.
For Cushing Hub storage operators and pipeline companies, the widening of the WTI-Brent spread to -$11.14 and the premiums now attached to Dubai and Urals point to benchmark relationships moving away from familiar patterns, with US crude lagging the global complex. A fresh Cushing inventory release would clarify whether the wider spread reflects US storage conditions or simply Brent and Gulf grades repricing on supply risk, a question made sharper by the strategic petroleum reserve’s fall to its lowest level since 1983 in July.
What is the current WTI crude price?
The WTI crude price fluctuates daily based on trading on NYMEX. This page is updated monthly with the latest available benchmark data. For real-time WTI crude prices, refer directly to CME Group or NYMEX at cmegroup.com.
What does WTI stand for?
WTI stands for West Texas Intermediate. It is a light, sweet grade of crude oil extracted primarily from the Permian Basin and other US producing regions. WTI is classified as light due to its low density and sweet due to its low sulphur content, making it easier and cheaper to refine into gasoline and diesel than heavier, sourer crude grades.
What is the difference between WTI and Brent crude?
WTI is the North American benchmark, traded on NYMEX with delivery at Cushing, Oklahoma. Brent is the international benchmark, traded on ICE with waterborne delivery from the North Sea. Brent typically trades at a small premium to WTI due to its superior logistical flexibility — Brent can be shipped directly to refineries worldwide, whereas WTI is landlocked until it reaches the US Gulf Coast pipeline network.
How does the WTI crude price affect tank terminal storage demand?
The WTI crude price has a uniquely direct relationship with storage economics through the Cushing Hub in Oklahoma. When the WTI forward curve moves into contango, traders buy physical WTI and sell NYMEX futures to capture the spread, filling Cushing storage and pipeline terminals. In backwardation — the current market structure — this incentive disappears and Cushing storage demand from financial traders falls, leaving utilisation driven by operational refinery throughput requirements.
What is the WTI crude price in different currencies?
WTI is priced in US dollars globally. This page includes a currency conversion table covering EUR, GBP, JPY, AED, CNY, and INR, updated monthly from mid-market exchange rates.
What is the WTI crude price per litre and metric tonne?
WTI is most commonly quoted per barrel, but also trades in litres, gallons, metric tonnes, and cubic metres. This page includes a unit conversion table covering all major units — all calculated from the current NYMEX WTI benchmark price.
How current is the price data on this page?
Price data on this page is updated monthly. Figures reflect the most recent available benchmark data from the EIA and NYMEX. For real-time WTI crude price data, refer directly to CME Group at cmegroup.com.