By Volodymyr Kravchenko Updated
WTI · Brent · OPEC+
Oil Market Intelligence
WTI, Brent, the spread between them, and the supply catalysts driving one of the most volatile markets — structured, not sensational.
Crude oil trades through two benchmarks — WTI (US) and Brent (global) — which are highly correlated but priced on different grades and locations. Oil is volatile because supply is concentrated and slow to change while demand and risk sentiment move fast, so the biggest moves cluster around OPEC+ decisions, weekly inventory data and geopolitical shocks.
Start here
Start here for oil: from the report to your own risk
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Step 1
Understand the report
Price moves on the surprise, not the headline: know what the report is and why it can go against you.
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Step 2
Know your window
The release time and, on a funded account, your firm's window around it.
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Step 3
Size the risk
Your stop, your lot and your limit, whoever posted the idea.
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Step 4
Check the rules for your account
What a funded account allows on report day, and what to check before you pay for one.
Live chart
WTI, Brent and the spread
US crude, NYMEX-based. Live chart by TradingView.
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Funded accounts · 23 Oct 2026
When oil spikes: protect the account first
Brent hit its highest level since May this week on Middle East supply fears (CNBC, 22 Oct). Four checks for a funded trader.
Spreads and slippage widen Fast oil moves cost more to enter and exit.
In a sharp move, brokers often widen spreads and fills can slip past your stop. On a funded account, a stop that fills beyond your level still counts toward the daily loss and the max loss. Plan the loss at the stop you set plus a margin for slippage, not at the stop alone.
Size down before the headline The same lot size means more risk in a volatile market.
Volatility rises, so a normal stop distance can become too tight and a wide one too expensive. Cut the lot size so that a stop at the new, wider distance still risks the same share of the daily allowance. The WTI position size guide and the prop firm lot size calculator do this step by step.
Check the firm's news rules Some releases restrict trading for a few minutes.
Firms describe their own windows. FTMO's FAQ names Crude Oil Inventories among restricted events on a Standard FTMO Account; FundingPips has its own stages. A geopolitical headline is not on any calendar, so the news rules do not apply to it, but the weekly EIA report still does. Read the current rule on the firm's page before trading: news window checker.
Weekend and overnight gaps Oil can open far from where it closed.
Geopolitical news often lands outside the main session. A gap can skip your stop. If your account type allows holding over the weekend, decide in advance whether you want that exposure; if the rule or your plan says flat, close before the weekend.
AdSharp oil move? Read the firm rules first.
FTMO states the current rules for each account type on its own site, including restricted events: check them before you choose a programme. Evaluation fees apply and nothing here promises a pass or a profit.
Explore FTMODisclosure: Some links on this website are affiliate links. If you use them, we may receive compensation at no additional cost to you. This does not determine our editorial analysis, reviews or comparisons.
Education, not advice. No price or direction view is given here. Event source: third-party news report, not an official firm page. VERIFY CURRENT DATA: firm rules change, so read the firm's own page before you trade.
Quick question
If oil hit this price, what would you pay at the pump?
US average regular gasoline, EIA cost model. Arithmetic, not a forecast.
Price history
Oil's biggest moments
Six turning points. Tap a card to see what happened.
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1973 ×4in months The first oil shock How did one embargo quadruple the price?
The Arab oil embargo of 1973–74 roughly quadrupled the posted price of crude, from about $3 to about $12 a barrel, and made oil a geopolitical weapon.
What moves oil prices -
Jul 2008 $147a barrel The all-time high Has oil ever hit $200?
WTI traded at $147.27 intraday on 11 July 2008 and Brent near $147.50. That is still the nominal record: oil has never reached $200.
The $200 question -
Dec 2008 <$40five months later The crash How far can oil fall in five months?
After the financial crisis hit, crude fell from above $140 to below $40 a barrel by December 2008, one of the fastest collapses on record.
Gas at $40 oil -
2011–13 $100+three years The $100 plateau Can oil stay above $100 for years?
Brent averaged more than $100 a barrel in 2011, 2012 and 2013, the longest stretch at that level so far.
What $110 oil means at the pump -
20 Apr 2020 −$37.63WTI settlement Oil below zero Why would anyone pay you to take oil?
With storage at Cushing, Oklahoma filling up during lockdowns, the expiring May WTI futures contract settled at −$37.63. Sellers paid buyers to take delivery.
Watch Cushing stocks weekly -
Mar 2022 $139Brent intraday The war spike How close did Brent get to the record?
After Russia's invasion of Ukraine, Brent touched about $139 on 7 March 2022, within $9 of the 2008 high.
Brent: drivers and chart
Nominal prices, not adjusted for inflation. Sources: EIA, ICE, CME, as cited in our Brent explainer.
Live shipping
Oil tanker traffic near the Strait of Hormuz
Roughly a fifth of global oil passes through this chokepoint — disruptions here can move crude prices fast.
Live vessel traffic near the Strait of Hormuz. Map by MarineTraffic.
Fresh from the desk
Latest oil analysis
WTI vs Brent: The Difference Between the Two Oil Benchmarks
The difference between WTI and Brent crude: where each is priced, why the gap (the spread) moves, and how traders read it. Live chart link included.
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EIA Weekly Petroleum Status Report: How Oil Traders Read It
What the EIA's Weekly Petroleum Status Report contains, when it is released, why Cushing matters for WTI and how to read it beyond the headline.
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How to Trade Oil (WTI & Brent): A Practical Guide
A clear guide to trading crude oil: WTI vs Brent, what drives prices, the key data to watch and how to manage volatility, without hype.
Read analysis
What Drives Oil Volatility: OPEC, Inventories and Geopolitics
Crude oil is one of the most volatile markets. Here are the recurring catalysts that move WTI and Brent, and how to build a routine around them.
Read analysis
The Strait of Hormuz and Oil Prices: What Passes Through It and What Changed in 2026
How much oil passes through the Strait of Hormuz, why pipelines cannot replace it, what changed in 2026 and what the EIA and IEA say. Facts, dated and sourced.
Read analysis
Trading the EIA Oil Report on a Funded Account: A Wednesday Checklist
Before the Wednesday EIA crude inventory report: what FTMO and FundingPips say about news windows, what counts as a violation, and a five-step checklist.
Read analysis
What Is Brent Crude Oil? The Name, the Price and the $200 Question
Why Brent is called Brent, who owns it, how it differs from WTI, where to check today's price, and what oil price history says about $100 and $200 a barrel.
Read analysisWhy Oil Can Move Against the Headline (and What to Do About It)
Why oil can fall on a bullish-looking report: expectations, other drivers and the release itself. Plus API vs EIA, and what it means on a funded account.
Read analysisWhat this hub covers
AdTrack WTI, Brent and the spread in one workspace
Side-by-side crude charts, custom spread symbols and alerts on the catalysts that move oil.
Explore TradingViewDisclosure: Some links on this website are affiliate links. If you use them, we may receive compensation at no additional cost to you. This does not determine our editorial analysis, reviews or comparisons.
AdTrading oil on a funded account?
Oil can move sharply on the weekly EIA inventory report. FTMO's FAQ names Crude Oil Inventories among its restricted events on a Standard FTMO Account (a 2-minute window before and after, not during the evaluation). Read the rules for your account type on FTMO's site before you trade it.
Explore FTMODisclosure: Some links on this website are affiliate links. If you use them, we may receive compensation at no additional cost to you. This does not determine our editorial analysis, reviews or comparisons.
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Frequently asked questions
What drives oil prices?
Crude oil is driven by supply (OPEC+ decisions, US production, inventories) and demand (global growth, China), plus the US dollar and geopolitical risk.
What is the difference between WTI and Brent?
WTI is the US benchmark priced at Cushing, Oklahoma; Brent is the global benchmark based on North Sea crude. They correlate closely, and the gap between them is the Brent–WTI spread.
Why does oil react to EIA inventory data?
Weekly US EIA inventory data signals the supply-demand balance. Oil often reacts to how the number compares with expectations rather than the raw figure.
How does the US dollar affect oil?
Oil is priced in dollars, so a stronger dollar can weigh on crude prices and a weaker dollar can support them, all else being equal.