WTI
Crude Oil
Crude Oil
Crude Oil (WTI) price converter
1 WTI = $71.41
Popular WTI conversions
News — articles from publishers · Digest — our daily curated roundup · AI insights — model-generated take
Fuel Markets Flash Supply Crunch Despite Calmer Crude Prices
Gasoline and diesel markets signaled a fuel supply crunch on July 9-10 from Iran war disruptions and Strait of Hormuz issues, even as crude oil prices stayed relatively subdued. Energy prices had previously surged after effective closure of a key supply route carrying a fifth of global oil.
OPEC+ Raises Output Targets; Saudi Aramco Makes Historic Price Cuts
OPEC+ approved an increase of 188,000 barrels per day starting August, while Saudi Arabia slashed its official selling price for Arab Light by $11 per barrel, the largest cut in decades amid rising global supply.
Oil Steadies Near $72 as Hormuz Tanker Traffic Shows Recovery Signs
Brent crude held near $72 a barrel with traders monitoring flows through the Strait of Hormuz, where oil and gas tankers resumed crossings via Oman-side routes after recent U-turns and detours.
Iran war disruptions and sanctions relief move oil markets
Ongoing US-Iran conflict and related sanctions have driven oil price volatility with earlier spikes from Strait of Hormuz threats, but recent peace progress led to sharp declines. Investors previously sought safe havens like gold and dollar amid escalations.
Oil Prices Slip After OPEC+ Output Decision
Brent crude fell 0.47% to $71.78 a barrel and WTI was at $68.49 following the OPEC+ announcement, with prices pressured by expectations of higher global supply.
OPEC+ Set to Approve Another Oil Output Increase
OPEC+ has agreed in principle to increase production quotas by 188,000 barrels per day starting in August.
Ukraine drone strikes Russian oil terminal in St. Petersburg
Ukrainian drones hit an oil terminal in St. Petersburg on July 4, 2026, as part of intensified long-range attacks on Russian energy infrastructure, exacerbating Russia's fuel crisis.
Ukrainian drones strike another Russian oil refinery amid fuel shortages
Drones set a Russian refinery ablaze as Putin acknowledges shortages, escalating energy market risks in ongoing Ukraine war.
US-Iran Strikes Escalate in Strait of Hormuz
US conducted fresh strikes on Iranian targets after a tanker was hit in the Strait of Hormuz, with Iran responding via drones and threats to shipping; renewed attacks reported on June 27-28, 2026.
Iran-US tensions drive safe-haven demand and oil volatility
Escalating attacks and Hormuz risks in the US-Iran conflict have boosted gold prices and supported defense stocks while pressuring broader equities; oil markets react sharply to supply disruption fears from the Strait.
Saudi Arabia Restarts Crude Loadings at Major Gulf Terminal
Saudi Arabia resumed crude loadings at a key Gulf terminal after a nearly four-month halt, boosting near-term supply prospects in the oil market.
Oil Prices Fall on US-Iran Developments and Strait of Hormuz Hopes
On June 26, 2026, oil prices edged lower as traders reacted to news of U.S. forces attacking Iran and progress on a potential deal to reopen the Strait of Hormuz. WTI crude traded around $70 per barrel with futures showing declines amid resumed tanker movements.
More Vessels Transit Hormuz as Qatar LNG Tankers Return After Peace Moves
Oil shipments and tanker traffic through the Strait of Hormuz have risen, with Qatar-linked LNG tankers returning, following recent ceasefire and peace developments.
Oil Prices Drop Over 3% After US-Iran Talks Ease Supply Risks
Brent crude settled down 3.31% at $77.90/bbl on June 22 after the US granted Iran a 60-day sanctions waiver following progress in peace talks, signaling reduced risks to Strait of Hormuz flows. Prices remained steady to slightly lower on June 23 with increasing vessel transits.
Oil prices ease as US-Iran peace talks progress
Brent crude fell over 3% to around $77 per barrel and WTI to $73.86 following reports of progress in US-Iran negotiations to end the war and resume Hormuz shipping.
Oil prices show volatility on Middle East ceasefire and Hormuz developments
Brent and WTI futures fluctuated with signs of Strait of Hormuz reopening and ceasefire extensions, leading to mixed settlements around $76-79 levels. Earlier gains from hostilities reversed on peace progress.
World Bank Warns of Renewed Inflationary Pressures from Middle East Conflict
The June 2026 Global Economic Prospects report highlights sharp energy price increases from the Middle East conflict driving higher inflation expectations and dissipating hopes for near-term monetary easing across major economies.
US-Iran Ceasefire Agreement Signed
US and Iran released text of interim ceasefire agreement on June 17, 2026, with Trump threatening to resume attacks if commitments not honored; oil prices sank below $80 as traders bet on resumed Strait of Hormuz flows.
Oil Prices Plunge on Iran Deal
Oil dropped as much as 4% to a three-month low following the US-Iran peace agreement announcement, pressuring energy equities while supporting broader market risk appetite.
U.S.-Iran Peace Deal Boosts Global Markets
The U.S. and Iran reached a peace deal to end nearly four months of conflict, causing oil prices to tumble and risk assets to rally. Asian stocks surged with Japan’s Nikkei jumping up to 5%, South Korea’s Kospi rising 5.1%, and U.S. stock futures climbing sharply ahead of Monday trading.
Oil Prices Extend Losses as Trump Cancels Iran Strikes
Brent crude fell over $1 to around $88.55 a barrel and WTI dropped to $86.11 on June 12 after President Trump canceled planned strikes on Iran, reducing escalation fears following recent tit-for-tat attacks. OPEC also lowered its 2026 oil demand growth forecast to 970,000 bpd.
Oil prices fall as investors await clarity on Iran-Israel truce
Oil prices dropped on June 9, 2026, with Brent down up to 1.6% and WTI over 2%, erasing prior gains after the Iran-Israel halt in attacks. Markets reflect an uneasy truce amid risks of resumed fighting and Hormuz Strait disruptions.
Oil Prices Fall After Oman Confirms Mina al Fahal Operations Normal
Oil prices declined on June 5 after Oman stated that operations at its Mina al Fahal port were proceeding normally, easing concerns following a Reuters report of a disruption after an explosion. Markets remain volatile amid ongoing uncertainty over a US-Iran peace deal.
Global Oil Inventories Depleted, Next Price Spike Could Roil Economies
Global oil inventories are critically low due to Middle East supply disruptions from the US-Iran conflict, with analysts warning of potential spikes to $150-160 per barrel for dated Brent if levels drop further. US crude exports are surging and draining domestic inventories toward rock bottom.
Oil Prices Slip 3% as Mideast Tensions Ease
Oil prices declined about 3% on June 4, 2026, contributing to broader market relief after recent U.S.-Iran related spikes. Lower energy costs supported the equity rally alongside falling Treasury yields.
Oil Prices Climb on Iran War Uncertainty and Hormuz Blockade
Oil prices rose to a one-week high with Brent at $96 as Iran reviews a US proposal to halt the war while the Strait of Hormuz remains closed, disrupting global flows. IEA warned inventories could hit critical lows before summer demand.
Israel-Lebanon Ceasefire Agreed Amid Iran War Hopes
Israel and Lebanon agreed late Wednesday to implement a ceasefire, raising hopes for a deal between Washington and Tehran to end the conflict and reopen the Strait of Hormuz. Oil prices fell more than 3% on the news while gold gained over 1%.
WTI Crude Holds at $96.6 as Iran Deal Hopes Offset Conflict Risks
WTI crude oil trades neutrally at $96.6 per barrel despite ongoing geopolitical developments involving Iran. Recent data shows the Fed's preferred inflation gauge approaching 4% year-over-year, influenced by energy price spikes. Market participants are monitoring potential negotiations that could affect supply routes like the Strait of Hormuz.
Oil Prices Rise on Slow Progress in US-Iran Peace Talks
Oil prices climbed on Friday as investors worried that the U.S. and Iran would be unable to reach a peace agreement allowing normal shipping traffic in the Strait of Hormuz. Oil settled higher amid ongoing Middle East tensions and doubts over a breakthrough deal.
US Inflation Gauge Approaches 4% on Iran War Energy Surge
The Federal Reserve's preferred inflation measure is rapidly approaching 4% as war-driven spikes in energy costs raise concerns that price pressures will broaden.
U.S. Crude and Gasoline Inventories Fell Last Week, EIA Reports
U.S. crude and gasoline inventories declined last week while distillates rose, according to EIA data released on Wednesday. This comes alongside reports of tankers exiting the Strait of Hormuz with millions of barrels of crude.
