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    WTI crude oil (West Texas Intermediate)

    Also known as WTI, West Texas Intermediate, US crude, Cushing crude, NYMEX crude

    West Texas Intermediate (WTI) is a light, sweet US crude priced at the Cushing, Oklahoma, trading hub and is the benchmark for most US crude.[1] In 2026 WTI rose less than Brent during the Middle East war; as of 6 October 2026 the WTI spot price was $96.24 per barrel, against $125.44 for Brent.[2][3]

    Editor reviewedStrict sourcingUpdated Markets and tradingWorld affairs
    Key facts

    West Texas Intermediate, or WTI, is the benchmark price for US crude oil.[1] With Brent and Dubai/Oman, EIA counts it as one of the three most significant crude benchmarks.[4] This page is general information, not financial advice.

    What WTI is

    WTI is a light, sweet crude oil produced in the United States. It is priced at the crude oil trading hub of Cushing, Oklahoma.[1] It serves as the benchmark for other US crudes and for crude imported from Canada, Mexico and South America.[1] Benchmarks exist so that buyers and sellers can price many different crudes against one reference, using an agreed differential.[5] Since 2023, WTI priced at Midland, Texas, has also been part of the basket used to assess Brent.[6]

    Why WTI and Brent diverged in 2026

    Before the war, WTI traded about $4 below Brent. On 27 February 2026 the spot prices were $66.96 for WTI and $71.32 for Brent.[7] Once the conflict began, the gap widened. EIA said Brent rose more sharply because it is more exposed to higher shipping costs and to reduced oil flows between the Middle East and Asia. The spread averaged $12 per barrel in March.[3] By 2 October 2026 the spot gap was much wider: $135.51 for Brent against $97.89 for WTI.[8]

    The United States was less directly exposed to the Gulf disruption. Foreign buyers turned to US supply, and US net exports of crude and petroleum products reached a record 5.8 million barrels per day in April 2026.[9] EIA forecasts that US crude oil production will average 13.9 million barrels per day in 2026 and 14.3 million in 2027, up from 13.7 million in 2025.[10]

    WTI in 2026

    WTI was $57.21 on 2 January 2026.[11] It rose with Brent through the spring and fell back after the 18 June US-Iran memorandum of understanding.[12] As of 6 October 2026 the spot price was $96.24.[2] EIA’s October outlook forecasts that WTI will average about $88 per barrel in 2026 and $80 in 2027. These are EIA’s forecasts, not ours.[13] For the dated record of moves and causes, see the oil prices tracker.

    WTI and pump prices

    US gasoline prices follow crude oil costs, but with lags and other components added on top. Crude made up an estimated 52% of the US regular gasoline price in May 2026.[14] As of 5 October 2026 regular gasoline averaged $4.354 per gallon, according to EIA’s weekly survey.[15] For why pump prices trail crude, see what moves oil prices.

    Questions readers ask

    What is WTI crude oil?

    WTI is a light, sweet crude produced in the United States and priced at the Cushing, Oklahoma, trading hub. It is the benchmark for other US crudes and for imports from Canada, Mexico and South America.[1]

    What was the WTI price in October 2026?

    EIA's daily data put the WTI spot price at $97.89 per barrel on 2 October 2026 and $96.24 on 6 October.[8][2]

    Why is WTI cheaper than Brent?

    In 2026 EIA said Brent rose more sharply than WTI because it is more exposed to higher shipping costs and to reduced Middle East oil flows to Asia. The Brent-WTI spread averaged $12 per barrel in March 2026.[3]

    What does EIA forecast for WTI?

    EIA's October 2026 outlook forecasts WTI will average about $88 per barrel in 2026 and $80 in 2027. That is EIA's forecast, not ContentLora's.[13]

    Sources

    Each numbered claim is a statement we checked against the sources listed with it. Status shows how well established it is.

    1. [1]

      WTI is a light, sweet US crude priced at the trading hub of Cushing, Oklahoma, and is the benchmark for other US crudes and for imports from Canada, Mexico and South America. confirmedas of 2026-10-10

    2. [2]

      As of 6 October 2026, the latest day in EIA's daily data, the Brent spot price was $125.44 per barrel and the WTI spot price was $96.24. confirmedas of 2026-10-06

    3. [3]

      The Brent-WTI spread averaged $12 per barrel in March 2026 because Brent was more exposed to higher shipping costs and reduced Middle East flows to Asia. confirmedas of 2026-04-07

    4. [4]

      EIA describes Brent, West Texas Intermediate (WTI) and Dubai/Oman as three of the most significant benchmarks in global crude oil markets. confirmedas of 2026-10-10

    5. [5]

      Benchmark crudes make it easier to price the many crude grades produced worldwide; other crudes are priced at an agreed differential to a benchmark. confirmedas of 2026-10-10

    6. [6]

      Brent prices refer to a basket of North Sea grades (Brent, Forties, Oseberg, Ekofisk and Troll), and in 2023 most Brent price assessments began incorporating WTI priced at Midland, Texas, because North Sea output was declining. confirmedas of 2026-04-24

    7. [7]

      On 27 February 2026, the last trading day before the conflict began, the Brent spot price was $71.32 per barrel and WTI was $66.96. confirmedas of 2026-02-27

    8. [8]

      The Brent spot price was $135.51 per barrel on 2 October 2026, while the WTI spot price was $97.89. confirmedas of 2026-10-02

    9. [9]

      US crude and petroleum product net exports reached a record 5.8 million barrels per day in April 2026 as buyers turned to US supply. confirmedas of 2026-06-30

    10. [10]

      EIA forecasts US crude oil production at 13.9 million barrels per day in 2026 and 14.3 million in 2027, up from 13.7 million in 2025. confirmedas of 2026-10-06· forecast

    11. [11]

      The Brent spot price was $61.98 per barrel on 2 January 2026, and the WTI spot price was $57.21. confirmedas of 2026-01-02

    12. [12]

      On 18 June 2026 the United States and Iran signed a memorandum of understanding to end the conflict and open the Strait of Hormuz. confirmedas of 2026-07-31

    13. [13]

      EIA's October 2026 outlook forecasts annual averages of $96 per barrel for Brent and $88 for WTI in 2026, and $84 for Brent and $80 for WTI in 2027. confirmedas of 2026-10-06· forecast

    14. [14]

      In May 2026, when US regular gasoline averaged $4.48 per gallon, EIA estimated crude oil accounted for 52% of the retail price, refining 22%, distribution and marketing 15% and taxes 12%. confirmedas of 2026-05-31

      • Gasoline and Diesel Fuel Update · U.S. Energy Information Administration · 2026-10-06 · What we pay for in a gallon of: Regular Gasoline, May 2026 (chart) (retrieved 2026-10-10)
    15. [15]

      As of 5 October 2026 the US average retail price of regular gasoline was $4.354 per gallon, down 11.1 cents from a week earlier and $1.23 above a year earlier, and on-highway diesel was $6.199. confirmedas of 2026-10-05

      • Gasoline and Diesel Fuel Update · U.S. Energy Information Administration · 2026-10-06 · U.S. Regular Gasoline Prices and U.S. On-Highway Diesel Fuel Prices tables, 10/05/26 (retrieved 2026-10-10)
    Revision history (1)
    1. Page created.

    Created Oct 10, 2026. Last reviewed by an editor on Oct 10, 2026. Next scheduled review: Nov 15, 2026.

    Cite this page

    "WTI crude oil (West Texas Intermediate)." ContentLora, updated Oct 10, 2026. https://contentlora.com/wiki/wti-crude

    Spotted an error? Suggest a correction or emailcorrections@contentlora.com.

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