INDEPENDENT CRUDE MARKET INTELLIGENCE

The US crude
benchmark, in context.

Follow West Texas Intermediate from Cushing spot to the futures curve, the Permian Basin and the Gulf Coast.

Explore WTI prices Open the Basis Lab

EIA SPOT SNAPSHOT

3 November 2026

Cushing WTI$99.64

Europe Brent$107.03

Brent minus WTI+$7.39

USD per barrelView price history

01 / BENCHMARK FIELD GUIDE

One name. Three different prices.

Start with the location, delivery window and price source. Each tells you something different about a barrel of crude.

01 / OKLAHOMA

Cushing spot

Read the EIA daily spot series and track the role of storage and delivery at Cushing.

02 / CONTRACT MONTH

NYMEX WTI futures

Compare CL and Micro WTI. Learn how expiry, settlement and contract size change the exposure.

03 / PERMIAN TO COAST

Physical differentials

Follow the move from Midland to Houston and see where freight and local basis enter the price.

02 / WORKING TOOLS

From benchmark
to barrel.

Put a price relationship on a per-barrel and total-dollar basis. Change the assumptions and take the calculation with you.

View the tools

Physical Basis LabCompare inland and coastal prices after modeled costs.

Futures Exposure LabSee how size, direction and price changes affect exposure.

Spot History ExplorerCompare paired EIA observations and download the window.

03 / RESEARCH DESK

Read the signals behind the price.

06 NOV 2026 / DATA NOTE

The Brent–WTI spread

A look at 22 paired EIA spot observations and the limits of an Atlantic Basin price difference.

FIELD NOTE / INVENTORIES

How to read the EIA release

Separate Cushing stocks, national commercial inventories and the balancing items that move the total.

FIELD NOTE / TERM STRUCTURE

What the curve is saying

Learn how prompt versus deferred pricing differs from a spot benchmark spread.

START WITH THE SOURCE

Give every number a definition.

Read our methodology

The US crudebenchmark, in context.