WTI Crude Oil Prices

WTI crude oil prices averaged USD 63.98 per barrel in September, down 1.4% from August. On 30 September, the commodity traded at USD 63.17 per barrel, down 1.8% from 29 August.

While Brent prices rose slightly in September, WTI prices fell. This is partially because traders have increasingly favored trading Brent in recent years. However, it also likely reflected some U.S.-specific factors: U.S. oil production continues to hit fresh records, with the most recent data putting output at 13.6 million barrels per day in July.