WTI Little Changed, Still Set for Weekly Drop

2026-03-20 10:20 By Agna Gabriel 1 min. read

WTI crude oil futures were little changed at around $96 per barrel as markets remained highly sensitive to any escalation in the Middle East conflict.

Iran continued attacks on neighboring countries despite Israel signaling it would avoid targeting energy infrastructure, while both sides exchanged fresh blows, including strikes in Tehran.

President Donald Trump downplayed the recent surge in oil prices, saying the situation could have been worse and may end soon.

The spread between WTI and Brent widened to about $14 per barrel, leaving Brent on track for weekly gains while WTI is still set to decline, as the International Energy Agency agreed to release 400 million barrels of crude from reserves, with the US set to release 172 million barrels from the SPR.

Also, US crude stocks at Cushing, Oklahoma, the delivery and pricing point for West Texas Intermediate crude futures on the New York Mercantile Exchange, rose last week to 27.52 million barrels, their highest since August 2024.



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WTI Little Changed, Still Set for Weekly Drop
WTI crude oil futures were little changed at around $96 per barrel as markets remained highly sensitive to any escalation in the Middle East conflict. Iran continued attacks on neighboring countries despite Israel signaling it would avoid targeting energy infrastructure, while both sides exchanged fresh blows, including strikes in Tehran. President Donald Trump downplayed the recent surge in oil prices, saying the situation could have been worse and may end soon. The spread between WTI and Brent widened to about $14 per barrel, leaving Brent on track for weekly gains while WTI is still set to decline, as the International Energy Agency agreed to release 400 million barrels of crude from reserves, with the US set to release 172 million barrels from the SPR. Also, US crude stocks at Cushing, Oklahoma, the delivery and pricing point for West Texas Intermediate crude futures on the New York Mercantile Exchange, rose last week to 27.52 million barrels, their highest since August 2024.
2026-03-20
Oil Slips as Supply Concerns Ease
WTI crude futures fell toward $94 per barrel on Friday after surging above $100 in the previous session, as easing supply concerns helped calm markets. Leaders from the UK, France, Germany, Italy, the Netherlands, Japan, and Canada signaled their willingness to support efforts to ensure safe passage through the Strait of Hormuz. US President Donald Trump also said Washington is not considering deploying ground troops in the region, while Treasury Secretary Scott Bessent suggested Iran’s regime could face internal collapse and indicated the US is exploring lifting sanctions on Iranian oil. Israeli Prime Minister Benjamin Netanyahu also stated that Israel would refrain from further attacks on Iranian energy infrastructure. Despite the pullback, WTI futures remain up about 40% since the start of the conflict, as disruptions have effectively shut the Strait of Hormuz and forced major regional producers to sharply reduce output.
2026-03-20
Oil Falls as US, Israel Allay Market Fears
WTI crude futures fell below $94 per barrel on Friday after climbing as high as $101 in the previous session, as recent remarks from the US and Israel helped ease concerns over further damage to Middle Eastern energy infrastructure. US President Donald Trump said Washington is not considering deploying ground troops in the region, while Treasury Secretary Scott Bessent suggested Iran’s regime could face internal collapse and noted that the US is exploring the removal of sanctions on Iranian oil. Meanwhile, Israeli Prime Minister Benjamin Netanyahu said Israel would refrain from additional attacks on Iranian energy facilities and that the war could end sooner than expected, noting Iran’s reduced capacity to enrich uranium or produce ballistic missiles. Despite the pullback, WTI futures remain up about 40% since the start of the conflict, as the disruption has effectively shut the Strait of Hormuz and forced major regional producers to sharply curb output.
2026-03-19