Traders now turn their attention to the Fed’s two-day policy meeting, which kicked off on Tuesday, for clues on the health of the economy and potential tariff risks. Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
W&T Offshore (WTI) Stock Price, News & Analysis
Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices.
W&T Offshore Announces Timing of Third Quarter 2024 Earnings Release and Conference Call
W&T Offshore Incorporated explores for and produces oil and natural gas in the Gulf of Mexico. W&T Offshore, Inc. was founded in 1983 and is headquartered in Houston, TX. Gold prices surged to a record high after the US Federal Reserve policy. Bullion reached an all-time high of $3,055.31 per ounce earlier in the session. Analysts like W&T Offshore more than other “oils/energy” companies.
Recent News: WTI
W&T Offshore’s significant debt reduction and positive cash flow make it an appealing investment, with potential for inorganic growth through acquisitions in the Gulf of Mexico. It’s clear, however, that consumers are feeling less and less enthused about the state of their pocketbooks. The University of Michigan’s consumer sentiment survey came in at 57.9 on Friday, well below expectations of 63. It took less than a month for the benchmark index to fall into correction, the fifth-fastest such move in the past 75 years, according to Ritholtz Wealth Management. Zelensky thanked Trump for US support and the two leaders agreed that technical teams would meet in Saudi Arabia in the coming days. Policymakers are largely expected to hold rates steady in their decision on Wednesday.
China held benchmark lending rates steady for the fifth straight month in March, matching market expectations. The Peopleās Bank of China kept the one-year loan prime rate (LPR) at 3.1%, while the five-year LPR was unchanged at 3.6%. The PBOC has kept its 7-day rate, the countryās main policy rate, steady at 1.5%. US stock market ended higher on Wednesday after the Federal Reserve kept interest rates unchanged as widely expected. The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil.
Concerns that the US economy is showing signs of strain have receded after data this week showed inflation heading in the direction desired by the Federal Reserve, which holds its policy meeting next week. But the details of that data could give policymakers pause for thought. South Koreaās Kospi rose 0.64%, while the Kosdaq gained 0.55%. Hong Kongās Hang Seng index futures indicated a tepid opening.
W T Offshore Inc Stock (WTI) Year by Year Forecast
It is sourced in the United States and distributed via the Cushing hub, which is considered āThe Pipeline Crossroads of the Worldā. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI forex arbitrage software trades at $67.42 per barrel, up from Wednesdayās close at $67.01.
- US stock market ended higher on Wednesday after the Federal Reserve kept interest rates unchanged as widely expected.
- Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.
- The consensus among Wall Street equities research analysts is that investors should “buy” WTI shares.
- W&T Offshore, Inc. shows resilience with strong liquidity and efficient drilling from its Cox acquisition, despite market volatility and lower oil prices.
- W&T Offshore, Inc. was founded in 1983 and is headquartered in Houston, TX.
Traders should position themselves accordingly and remain selective in the broader market,ā said Ajit Mishra ā SVP, Research, Religare Broking Ltd. The US Fed Chair Jerome Powell-led Federal Open Market Committee (FOMC) kept the benchmark federal funds rate unchanged, and signalled 50 basis points (bps) of rate cut later this year. WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as ālightā and āsweetā because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined.
When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia. Enter your email address to receive the latest news and analysts’ ratings for W&T Offshore and its competitors. Upgrade to MarketBeat All Access to add more stocks to your watchlist.
Oil jumps 1% to close out week little changed
- W&T briefly fell below $2 on Friday, its lowest level since November 2020.
- Apple stock advanced 1.20%, while Boeing shares jumped 6.8%.
- The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil.
- The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.
Crude oil prices traded higher after the US Fed policy, while data showed robust fuel consumption. Brent crude oil rose 0.45% to $71.10 a barrel, while the US West Texas Intermediate (WTI) crude futures gained 0.22% to $67.31. W&T Offshore, Inc., an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of America. The company sells crude oil, condensate, natural gas, and natural Capital markets definition gas liquids. W&T Offshore, Inc. was founded in 1983 and is headquartered in Houston, Texas.
The consensus among Wall Street equities research analysts is that investors should “buy” WTI shares. According to one analyst, the rating for WTI stock is “Strong Buy” and the 12-month stock price forecast is $7.8. Please bear with us as we address this and restore your personalised lists. The US Federal Reserve kept its benchmark overnight interest rate unchanged in the 4.25% – 4.50% range, and indicated that two quarter-point interest-rate cuts were likely later this year.
Dow jumps 600 points, S&P 500, Nasdaq surge but still end the week with losses
Discover the 10 Best High-Yield Dividend Stocks for 2025 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps. The previous decade was tough for W&T Offshore, as they battled to deleverage whilst enduring oil price booms and busts. Thankfully there is a light at the end of the proverbial tunnel once their seni…
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. The author has not received compensation for writing this article, other than from FXStreet. OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at bithoven forex broker overview twice-yearly meetings. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices.