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Commodities

Oil Price Chart

Live WTI crude oil price with an interactive candlestick chart. Track oil price movements from 1 week to 5 years, open, high, low, and close for every session. Data sourced from NYMEX futures (CL=F) and refreshed every 15 minutes.

WTI Crude Oil (USD/bbl)
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Data via Yahoo Finance · 15-min delayed

What Moves the Oil Price?

OPEC+ Production Cuts

When OPEC+ reduces output quotas, global supply tightens and prices rise. Saudi Arabia and Russia are the swing producers, their decisions move markets by $3–10/barrel within hours of an announcement.

US Shale Production

The US became the world's largest oil producer in 2023, producing ~13 million barrels/day. High prices incentivize more US drilling, which caps rallies. The US rig count (Baker Hughes) is a leading indicator of future supply.

Global Demand (China)

China accounts for ~16% of global oil demand. Chinese economic data (PMI, industrial output, travel data) is a major demand signal. Slowdowns in Chinese manufacturing directly reduce oil consumption and pressure prices lower.

Geopolitical Risk

Middle East conflicts threaten the Strait of Hormuz, through which 20% of global oil flows. Sanctions on Russia, Iran, or Venezuela restrict supply. Any escalation in these regions adds a risk premium of $5–15/barrel to prices.

WTI Oil Price History, Key Events

YearEventWTI Price
2008Pre-financial crisis peak~$147/bbl
2016OPEC price war low~$26/bbl
2020COVID-19 demand crash (briefly negative)-$37/bbl
2022Russia-Ukraine war supply shock~$130/bbl
2024OPEC+ cuts offset by record US shale output$75–$87/bbl
2025Demand slowdown fears; OPEC+ discipline cracks$55–$85/bbl
2026Extreme volatility, Strait of Hormuz closure fears, US–Iran standoff (Brent neared $120)$63–$113/bbl (WTI)

How This Chart Works

The chart pulls front-month futures data from Yahoo Finance for three symbols: CL=F (WTI crude), BZ=F (Brent crude), and NG=F (Henry Hub natural gas). Use the tabs above the chart to switch between them, then pick a range (1W, 1M, 3M, 1Y, or 5Y) to reload that period's candles.

Each candle plots open, high, low, and close for its period. A green candle closed higher than it opened; a red candle closed lower. The wick above and below the body marks the full high-low range traded, so a long wick signals a session with a wide price swing even if the close ended near the open.

Data refreshes on a 15-minute delay, matching standard free-tier market data feeds. This is accurate enough for tracking trends, comparing benchmarks, or checking today's move, but it is not a substitute for a real-time trading terminal if you are executing trades.

WTI, Brent, and Natural Gas: Three Different Benchmarks

WTI Crude (CL=F)

Priced per 42-gallon barrel at Cushing, Oklahoma. Light and sweet, so it refines easily into gasoline. The reference price for US pump prices and domestic energy contracts.

Brent Crude (BZ=F)

Sourced from North Sea fields and shipped globally, making it the benchmark for roughly 70% of internationally traded oil. Usually trades a few dollars above WTI due to transport and export dynamics.

Natural Gas (NG=F)

Priced per million British thermal units (MMBtu) at the Henry Hub in Louisiana. Far more sensitive to weather and storage levels than crude, so it swings harder in winter demand spikes.

Frequently Asked Questions

What is WTI crude oil?▾
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).
What drives crude oil prices up or down?▾
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.
Is this live oil price data?▾
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.
What is the difference between WTI and Brent crude?▾
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.
How does oil price affect gasoline prices?▾
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.
What is OPEC and how does it influence oil prices?▾
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.
How does the oil candlestick chart work?▾
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.