WTI Crude Oil

## What this measures

This series measures the spot price of West Texas Intermediate crude oil at Cushing, Oklahoma, in dollars per barrel.

## Why it matters

Oil prices affect input costs across transport, manufacturing and logistics, and signal shifts in global supply, demand and geopolitical risk. Organizations with energy-intensive operations or exposure to fuel surcharges watch crude benchmarks to anticipate margin pressure or adjust hedging strategies.

## How to read it

A rising price indicates tightening supply or stronger demand, raising costs for fuel and petrochemical inputs. A falling price suggests abundant supply or weakening demand, easing energy expenses but often reflecting slower economic activity.

## What it does not say

This is a spot price for one grade at one delivery point, not a forecast of future prices or a measure of refining margins, transport costs or prices paid by end users.

## Source

Palanor pulls this series from the FRED API (Federal Reserve Bank of St. Louis) nightly. The underlying series is DCOILWTICO.