QR
QR Energy
Oil & Gas
The Anatomy of the Oil Industry
What Is a Barrel, Really?
Inside the Refinery
Upstream, Midstream, Downstream
Shale
The Shale Revolution, Explained
How Fracking Works
The Permian & the Major Basins
Breakevens & Rig Counts
The Majors
What the Majors Actually Do
IOCs vs. NOCs
The Integrated Model
Capital & the Energy Mix
Energy Markets
Why the Oil Price Moves
Reading the Oil Price
Brent vs. WTI
OPEC & OPEC+, Explained
Futures & Hedging
Spare Capacity & the Swing Producer
Resources & Infrastructure
The Plumbing of Energy
Pipelines & Tankers
Refineries, Storage & Reserves
LNG & Export Terminals
Geopolitics of Oil
Oil & the Balance of Power
Chokepoints: The Straits That Move Oil
Sanctions, Embargoes & Stranded Barrels
Resource Nationalism & Who Owns the Oil
Browse
By the numbers
ILLUSTRATIVE · NOT LIVE
BRENT
82.40
▲0.9%
WTI
78.10
▲0.7%
NAT GAS
2.86
▼1.2%
DIESEL
2.71
▲0.3%
GASOLINE
2.44
▼0.4%
ENERGY MARKETS
Energy Markets
Why the oil price moves — supply, demand, spare capacity and sentiment.
Every explainer in Energy Markets
6 PIECES
01
Why the Oil Price Moves the Way It Does
Supply, demand, spare capacity and sentiment pull the barrel in different directions at once — a field guide to the forces behind the ticker.
6 MIN
02
Reading the Oil Price
Brent, WTI and the spread — how to read a crude price and what it's actually telling you.
4 MIN
03
Brent vs. WTI
Two benchmarks, one commodity — why they differ, and what the gap between them signals.
4 MIN
04
OPEC & OPEC+, Explained
The producers' club that steers supply — what OPEC and OPEC+ are, and the limits of their power.
4 MIN
05
Futures & Hedging, Explained
How producers and buyers lock in prices with futures — the basics of hedging, without the jargon.
3 MIN
06
Spare Capacity & the Swing Producer
The quiet number that moves the market — what spare capacity is, and why it matters more than reserves.
3 MIN