WTI Crude Oil News Today - West Texas Intermediate (WTI) today moved higher by 0.57% after moving between lows of $71.47 and $72.30. The new low for 2022 was set on Friday due to supply concerns following a major oil spill from TC Energy's Keystone Pipeline in Nebraska, United States.

WTI Crude Oil News Points:

  • WTI prints lower low, returns bearish on Friday
  • TC Energy and Russian crude oil trading prices are below $60/bbl

The Impact of Oil Spills on Crude Oil Prices

Almost one-fifth of Canada's oil exports to the US were halted at the same time as a tanker carrying Russian crude oil was reserved to the Black Sea following sanctions and price caps in the European Union.

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TC Energy, a major North American energy company, has shut down its pipeline system after a 14,000-barrel oil spill. According to PHMSA news, the oil spilled into a small river around Washington County, Kansas, about 240 km northwest of Kansas City, United States. Meanwhile, TD Securities analysis explained that the trading price of crude oil in Russia is around $ 60 a barrel and the data is below the price limit. Based on information from pbs.org regarding the price of wti crude oil, the price of crude oil had jumped on Thursday afternoon amid news of the oil spill. The cost of a barrel of oil for futures contracts rose 5%, which raised concerns in the market about direct oil supplies.

Crude Oil, WTI, Ready to Test Prices From $81.00 to $80.00 Levels

At the same time, analysts noted OPEC's decision not to deepen production cuts and not to weigh on market sentiment. Analysts said that OPEC's decision not to reduce supply further is likely temporary, and if Russia's export flows do not decrease significantly due to being below the $60/b cap, it could change. Furthermore, despite Russia having around 100 tankers hastily assembled and avoiding sanctions by exporters, high shipping costs and inefficient logistics suggest a reduction from Moscow.

Crude Oil Prices Hit Today's Highest Value, US Dollar Weakens!

Above is information about forex news on the development of WTI Crude Oil. Keep up to date with the latest information about the world of forex to other crypto through the GIC journal which will be announced every day. Of course, you can also trade on the GICTrade application with its newest feature, an ECN account, enjoy the advantages of the newest features with the lowest spread starting from just 0 Rupiah! Also follow the GIC Gebyar Hadiah and get attractive prizes in it from GIC worth billions of Rupiah without a draw!

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