Spot Crude Oil Price: West Texas Intermediate (WTI)
This dataset tracks spot crude oil price: west texas intermediate (wti) over time.
Latest Value
68.39
Year-over-Year Change
-16.39%
Date Range
1/1/1946 - 7/1/2025
Summary
The West Texas Intermediate (WTI) crude oil spot price is a key benchmark for the global oil market. It represents the wholesale price at which crude oil is traded and serves as an important indicator of supply, demand, and economic activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
WTI is one of the most widely tracked crude oil benchmarks globally. It reflects the price of high-quality, light crude oil delivered at the Cushing, Oklahoma storage hub, a major pipeline and storage center. The WTI price is a critical reference point for oil producers, refiners, and policymakers in evaluating market conditions.
Methodology
The WTI spot price is determined by trading on the New York Mercantile Exchange (NYMEX).
Historical Context
The WTI price informs decisions around production, consumption, and trade policies that can impact energy markets and the broader economy.
Key Facts
- WTI is the most actively traded crude oil futures contract.
- Cushing, Oklahoma is the delivery point for WTI crude oil futures.
- The WTI price is published daily by the U.S. Energy Information Administration.
FAQs
Q: What does this economic trend measure?
A: The WTI crude oil spot price measures the wholesale market price of high-quality light crude oil delivered at the Cushing, Oklahoma storage hub.
Q: Why is this trend relevant for users or analysts?
A: The WTI price is a critical benchmark for the global oil market, serving as an important indicator of supply, demand, and economic activity.
Q: How is this data collected or calculated?
A: The WTI spot price is determined by trading on the New York Mercantile Exchange (NYMEX).
Q: How is this trend used in economic policy?
A: The WTI price informs decisions around production, consumption, and trade policies that can impact energy markets and the broader economy.
Q: Are there update delays or limitations?
A: The WTI spot price is published daily by the U.S. Energy Information Administration.
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Citation
U.S. Federal Reserve, Spot Crude Oil Price: West Texas Intermediate (WTI) (WTISPLC), retrieved from FRED.