West Texas Intermediate (WTI) futures opened at $57.50 per barrel (bbl) on October 21, 2025. Brent crude opened at $61.00 per barrel. Both benchmarks remain closely watched gauges of global energy supply and demand. WTI futures are trading at $57.21/bbl, as of 9:24 a.m. ET. That’s down 0.49% since yesterday’s close.

Oil prices have fallen sharply this year as the global supply has remained strong and demand has been slow to grow.

Oil prices eased on Monday amid concerns of looming oversupply, despite last week's rally spurred by sanctions on Russian oil producers and positive US-China trade talks.

Spot premiums in the global crude oil market surged on Thursday after the United States imposed fresh sanctions on Russian oil giants Rosneft and Lukoil, intensifying concerns over supply disruptions and prompting a

The International Energy Agency predicts production to outstrip demand by a record 4 million barrels per day by next year. Meanwhile, there are about a billion barrels in tankers currently at sea.

Oil prices edged lower on Monday, falling over 1% earlier in the session as they were pressured by scepticism that a U.S. and Chinese trade deal framework would immediately boost oil demand and after Iraq's oil minister confirmed an oilfield fire had not affected the OPEC member's oil exports.

Indonesia's biodiesel mandate and declining soybean oil exports are driving palm oil prices higher, impacting global vegetable oil supplies.

OPEC+ production hikes may strain Saudi output; learn how this could impact oil markets and discover timely investment opportunities before 2026.

Global oil prices are signalling that the market is tipping into a protracted period of oversupply, but the huge disparity in forecasts for OPEC’s production will likely limit the selloff.