empty
 
 

2026.03.2010:20:41UTC+00WTI Edges Up, Still Set for Weekly Drop

WTI crude oil futures climbed to around $96 per barrel on Friday, as traders remained acutely sensitive to any signs of further escalation in the Middle East. Iran continued strikes on neighboring countries even as Israel signaled it would avoid targeting energy infrastructure, and both sides exchanged new attacks, including strikes in Tehran.

Former President Donald Trump downplayed the recent jump in oil prices, arguing that the situation could have been worse and might be resolved soon.

The spread between WTI and Brent widened to about $14 per barrel. This left Brent on track for weekly gains, while WTI remained poised for a weekly decline, after the International Energy Agency agreed to release 400 million barrels of crude from strategic reserves, including 172 million barrels from the US Strategic Petroleum Reserve (SPR).

In addition, US crude inventories at Cushing, Oklahoma — the delivery and pricing hub for West Texas Intermediate futures traded on the New York Mercantile Exchange — rose last week to 27.52 million barrels, the highest level since August 2024.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback