Trade US Oil
WTI Crude Oil
West Texas Intermediate crude, the primary US oil benchmark and one of the world's most traded commodities.
Price Chart
Specifications
Trade US Oil on weekends
US Oil is part of the StoicMarkets 24/7 group. A dedicated weekend instrument, USOIL.24-7, keeps quoting after the standard Friday close, so you can open, manage and close positions on Saturdays and Sundays. Weekend liquidity is thinner, so spreads can be wider than in weekday sessions.
Explore weekend tradingAbout US Oil (WTI Crude)
US Oil tracks the price of West Texas Intermediate (WTI) crude, the benchmark for North American oil pricing. WTI is a light, sweet crude oil priced at the Cushing, Oklahoma delivery hub, where physical pipelines from major US producing basins converge. It is one of the most actively traded commodity instruments globally. Oil prices are driven by the balance between global supply and demand. On the supply side, OPEC+ production quotas are the single most important variable. The cartel controls roughly 40% of world oil output, and their decisions to cut, maintain, or increase production directly set the floor and ceiling for prices in a given period. US shale production is the primary non-OPEC supply response. When prices rise, US producers ramp up drilling. When prices fall, rigs are idled. The weekly Baker Hughes rig count provides a leading indicator of this supply adjustment. On the demand side, global economic growth (particularly from China and India), seasonal refining patterns, and energy transition policies all play a role. The EIA Weekly Petroleum Status Report, released every Wednesday at 14:30 UTC, is the highest-frequency demand indicator oil traders follow. Inventory builds signal oversupply; draws signal tightening. Geopolitical risk remains a persistent factor. Conflicts, sanctions, or political instability in major producing regions (the Middle East, Russia, Venezuela, Libya) can remove supply from the market and produce sharp price spikes.
Key Price Drivers
- OPEC+ production decisions, quotas, and compliance
- EIA weekly crude inventory and demand data
- US shale production and Baker Hughes rig count
- Geopolitical risk in the Middle East, Russia, and OPEC nations
Peak Trading Hours
US Oil sees the highest volume during the US session when physical markets are most active.
US session (13:00-20:00 UTC)
EIA crude inventory data (released Wednesdays at 14:30 UTC) regularly triggers sharp intraday moves.
Trading Considerations for USOIL
Build Your Week Around Wednesday
The EIA inventory report at 14:30 UTC on Wednesdays is the most impactful regular event for oil. A larger-than-expected inventory build is bearish; a larger-than-expected draw is bullish. The API report on Tuesday evening provides a preview.
Track OPEC+ Meeting Calendars
OPEC+ ministerial meetings set production policy for months ahead. Scheduled meetings are known in advance, but emergency sessions can be called at short notice. Pre-meeting leaks and delegate comments often move prices before the official announcement.
Watch the WTI-Brent Spread
The price gap between WTI and Brent crude reflects regional supply dynamics. When the spread widens (Brent premium increases), it often signals US oversupply or international tightness. The spread itself can be a directional indicator.
Factor in Seasonal Patterns
Oil demand follows seasonal cycles. US driving season (May-September) and northern hemisphere winter heating demand create predictable demand peaks. Refinery maintenance seasons (spring and autumn) temporarily reduce crude intake. These patterns provide context for inventory data interpretation.
Key terms
Frequently Asked Questions
What is US Oil (WTI)?
US Oil is a CFD based on West Texas Intermediate crude, the primary North American oil benchmark priced at the Cushing, Oklahoma delivery hub.
How does OPEC affect oil prices?
OPEC and its allies (OPEC+) control roughly 40% of global oil supply. Their production decisions directly influence the supply-demand balance. Cuts tighten supply and support prices; increases flood the market and push prices lower.
What is the difference between WTI and Brent crude?
WTI is the US benchmark, priced at the Cushing, Oklahoma delivery hub. Brent is the international benchmark, sourced from the North Sea. WTI is a lighter, sweeter crude that is marginally cheaper to refine. The price spread between them reflects regional supply-demand differences and transport costs.
When is the EIA inventory report released?
The EIA Weekly Petroleum Status Report is released on Wednesdays at 14:30 UTC. It covers US crude inventories, refinery utilization, gasoline stocks, and distillate stocks. The Tuesday evening API report provides an earlier (though less authoritative) estimate.
What drives oil price spikes?
Geopolitical events in producing regions (Middle East conflicts, Russian sanctions, Venezuelan instability) can remove supply from the market and produce sudden price surges. Supply disruptions from hurricanes in the US Gulf Coast are another recurring catalyst.
Is oil affected by the US dollar?
Oil is globally priced in US dollars, so a stronger dollar makes oil more expensive for non-USD buyers and tends to suppress demand. A weaker dollar has the opposite effect. This inverse relationship is not perfect but holds across most market conditions.
Can I trade oil on a 10X account?
10X accounts support energy CFDs with up to 1:20 leverage on the amplified buying power. Check the StoicMarkets accounts page for current specifications on energy instruments.
What is the contract size for oil on StoicMarkets?
One standard lot of USOIL represents 1,000 barrels of WTI crude. At $70 per barrel, a full lot has a notional value of $70,000. Fractional lots (0.01 minimum) allow smaller position sizes.
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CFDs are complex instruments and carry a high risk of rapid capital loss due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.