What is the current oil price?

Oil prices vary by benchmark. WTI (West Texas Intermediate) trades around $70-75 per barrel, while Brent Crude trades $2-5 higher. Prices update every 5 minutes during market hours.

What is the difference between WTI and Brent oil prices?

WTI is the North American benchmark, a light sweet crude delivered to Cushing, Oklahoma. Brent is the global benchmark from the North Sea, used to price 60% of international oil. Brent typically trades $2-5 higher than WTI.

How often do oil prices change?

Oil prices change continuously during trading hours. WTI trades on NYMEX (Sunday 6pm - Friday 5pm ET), and Brent trades on ICE. Our API updates prices every 5 minutes.

What affects oil prices?

Key factors include: OPEC+ production decisions, global demand (especially from China), US inventory levels, geopolitical events, currency movements, and seasonal demand patterns.

How can I get oil prices via API?

OilPriceAPI provides real-time oil prices via REST API. Get 7-day free trial to start. Use endpoints like /v1/prices/latest?by_code=WTI_USD for current prices or /v1/prices/history for historical data.