WTI, Brent, and Dubai/Oman crude represent the main benchmarks reflecting the conditions prevailing in the oil market. In US dollars, their value responds to supply, demand, decisions made by OPEC+, geopolitical risk, sanctions as well as levels of global trade activity. Traders, investors, and corporations rely on these indicators to gauge trends within the energy sector.
Output, stocks, and consumption determine the value of oil. Political will, tariffs on exchange among countries, and the variation in demand all over the world also matter. OPEC+ strategy, U.S. Shale production as well as the move for green energy are factors in both short and long term.