Oil Price Chart

WTI (West Texas Intermediate) is the primary US crude oil benchmark, priced per barrel (42 US gallons). It is lighter and sweeter (lower sulfur) than Brent crude, making it easier to refine into gasoline and diesel. WTI trades on the NYMEX exchange under the ticker CL. It is one of the three major global benchmarks alongside Brent (North Sea) and Dubai/Oman (Middle East).

Oil prices are driven by supply and demand fundamentals: (1) OPEC+ production decisions — cuts reduce supply and raise prices. (2) US shale output — the US became the world's largest oil producer in 2023, capping price rallies. (3) Global economic growth — recessions reduce demand. (4) Geopolitical events — Middle East conflicts, sanctions on Russia/Iran create supply risk premiums. (5) USD strength — oil is priced in dollars, so a weaker USD pushes oil higher.

The data is sourced from Yahoo Finance (NYMEX futures contract CL=F) and refreshed every 15 minutes. It reflects the front-month WTI futures price, which is the globally referenced oil benchmark. For real-time trading data to the second, use a direct brokerage or Bloomberg terminal.

WTI is produced in the US midcontinent (Texas, North Dakota) and priced at Cushing, Oklahoma. Brent comes from the North Sea and is the global export benchmark — about 70% of world oil trades against Brent. WTI is typically $2–5/barrel cheaper than Brent due to logistics and local supply dynamics. For US consumers, WTI is more relevant; for global oil markets, Brent is the dominant benchmark.

Crude oil accounts for roughly 50–60% of the retail gasoline price. Refining costs (10–15%), distribution and marketing (15–20%), and taxes (10–15%) make up the rest. A $10/barrel change in crude oil translates to roughly 20–25 cents per gallon at the pump, though regional variations are large. The relationship is faster in one direction — gas stations raise prices quickly when crude rises but lower them more slowly when it falls.

OPEC (Organization of the Petroleum Exporting Countries) is a cartel of 13 nations controlling about 40% of global oil production. OPEC+ includes Russia and other allies, expanding the cartel's reach to ~55% of supply. The group meets regularly to set production quotas. Production cuts typically raise prices (as in 2022–2023); increases suppress them. Saudi Arabia acts as the swing producer, adjusting its own output to maintain cartel discipline.

Each candle shows four data points for that trading period: Open (price when the session started), High (highest price reached), Low (lowest price reached), and Close (price at session end). A green candle means the closing price was higher than the opening — the price rose. A red candle means it fell. The thin lines (wicks) show the full range traded within that period.