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 on Wednesday scored their biggest one-day gain in a month, as traders weighed how the recent drop in prices could keep a lid on the flow of global crude supplies.

Over 1.2 billion barrels of oil are currently in transit on tankers, driven by increased supply from OPEC+ and non-OPEC+ exporters, longer voyages, and rising production from the Americas.

U.S. stocks are drifting near their record heights. The S&P 500 added 0.6% Thursday and crept back within 0.2% of its all-time high set earlier this month.

Positive geopolitical developments and tech earnings are in focus Thursday as stocks sit just shy of record highs and the corporate earnings season continues apace.

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.