From wellhead to refinery to your trading screen — learn what moves the price of the world's most traded commodity, track live WTI prices, and explore decades of historical returns.
A real-time view of the West Texas Intermediate benchmark — the reference price for US-produced crude oil.
Simulated data for demonstration purposes. Live data integration is planned.
Crude oil is a naturally occurring fossil fuel found deep beneath the Earth's surface. Formed over millions of years from the remains of ancient marine organisms, it is a complex mixture of hydrocarbons that must be extracted and refined before use.
Once processed, crude oil becomes the fuel that powers most of the world's transportation, the feedstock for thousands of industrial chemicals, and the asphalt that paves our roads. It is, by value, the most traded commodity on Earth — and its price influences everything from inflation data to geopolitical strategy.
Not all crude oil is the same. It is classified by two key properties: density (light vs heavy) and sulfur content (sweet vs sour). Lighter, sweeter crudes are easier to refine and therefore command higher prices.
Measured by API gravity. Light crude (high API) flows freely and yields more high-value products like petrol.
Determined by sulfur content. Sweet crude (under 0.5% sulfur) is cheaper to refine and sells at a premium.
Equals 42 US gallons or 159 litres. Enough to produce roughly 19 gallons of petrol and 10 gallons of diesel.
Oil is traded around the clock across NYMEX, ICE, and other exchanges, with prices influenced by events worldwide.
Most of the world's oil is priced relative to one of two benchmark crudes. Understanding the difference is essential to understanding oil markets.
WTI is the benchmark for US-produced crude. Its price is influenced by American inventory data, shale production trends, and domestic refining capacity.
Brent is the global benchmark, pricing roughly two-thirds of the world's traded crude. It reflects Atlantic basin supply and demand, including OPEC and Russian exports.
Oil prices are set by the same force that sets all prices: the balance between how much is available and how much is wanted. When the balance shifts, prices move — sometimes dramatically.
Factors that increase available oil → push prices down
The cartel controls ~40% of global supply and meets regularly to set production targets.
American shale producers act as the world's swing supplier, ramping up when prices rise.
Governments hold emergency stockpiles. Releases add supply; purchases withdraw it.
Wars, sanctions, and pipeline attacks can suddenly remove supply and spike prices.
Factors that increase consumption → push prices up
Strong GDP growth means more factories, more shipping, more energy — more oil consumed.
Vehicles, aviation, and shipping account for roughly 60% of global oil demand.
Plastics, chemicals, fertilisers, and asphalt all derive from crude oil feedstocks.
Winter heating and summer driving seasons create predictable demand swings.
When supply exceeds demand, inventories build and prices fall — producers cut output to stabilise the market. When demand exceeds supply, inventories draw down and prices rise — producers ramp up to capture higher margins. The equilibrium price is where the two forces meet. Geopolitical events, OPEC decisions, and economic data releases can shift either side of the equation within hours, which is why oil is one of the most volatile of all major asset classes.
The world produces roughly 100 million barrels of oil per day. These ten countries account for over 70% of all production — and their political and economic decisions shape the price at your pump.
OPEC vs non-OPEC: The Organization of the Petroleum Exporting Countries (OPEC) is a 13-member cartel that coordinates production to influence prices. OPEC+ adds Russia and other allies. Together they control roughly half of global supply — making their meetings among the most market-moving events on the calendar.
Select a buy month and a hold period to see what your approximate return would have been. Past performance does not guarantee future results — but it reveals how volatile this market can be.
Simulated historical data for educational purposes only. Returns are based on approximate monthly average prices and do not account for transaction costs, contract rolling, or taxes. Actual trading results would differ materially.
Latest headlines from third-party sources. For now, these are simulated — real news integration is coming soon.
The cartel agreed to maintain voluntary cuts of 2.2 million barrels per day, citing uncertain demand outlook and global economic risks.
SupplyAmerican production surpassed 13.3 million barrels per day in November, driven by longer laterals and improved completion techniques in the Permian Basin.
ProductionPrices fell 1.2% after weak manufacturing data from the world's largest oil importer raised concerns about the global demand outlook for the coming quarter.
DemandThe US Department of Energy announced plans to purchase 3 million barrels for the SPR, continuing a slow replenishment after historic 2022 drawdowns.
ReservesFreight rates for crude tankers on key routes jumped 18% as shippers reroute around the Cape of Good Hope, extending voyage times and tightening available fleet capacity.
LogisticsThe International Energy Agency revised its demand growth estimate upward by 90,000 barrels per day, citing improved GDP projections from major consuming nations.
DemandThe full curriculum goes deeper into oil markets — covering futures contracts, OPEC dynamics, inventory data, and the risk management strategies specific to commodity trading.
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Oil is one of the most complex and volatile markets in the world. The curriculum teaches you to navigate it with discipline — from supply and demand fundamentals to the risk management strategies that keep traders alive.
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