WTI Crude Oil Prices

WTI crude oil prices averaged USD 102.05 per barrel in May, up 1.1% from April. On 29 May, the commodity traded at USD 91.16 per barrel, down 16.1% from 30 April.

In May, WTI’s discount relative to Brent fell closer to July 2025’s near four-year low. U.S. oil exports rose 7.7% from April to a record high 5.6 million barrels per day, with the country seen as a more reliable supplier than the Gulf due to the Iran war. Looking at other data, in March, U.S. oil output remained broadly steady, below late 2025’s record highs. Meanwhile, U.S. oil inventories fell over four times sharper in May than in the prior month, and roughly 50% more than expected by analysts.