China held benchmark lending rates steady for the fifth straight month in March, matching market expectations. The People’s 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 country’s 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.
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- Changes in inventories reflect fluctuating supply and demand.
- The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude.
- Policymakers are largely expected to hold rates steady in their decision on Wednesday.
- When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices.
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.
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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 gas liquids. W&T Offshore, Inc. was founded in 1983 and is headquartered in Houston, Texas.
W&T Offshore (WTI) Stock Forecast & Price Target
The central bank hiked its projection of US inflation for 2025 and downgraded the US economic growth forecast. On Wednesday, the Indian stock market ended higher for the third consecutive session, with the benchmark Nifty 50 closing above 22,900 level. Asian markets traded higher, while the US stock market rallied overnight after the Fed policy. Uncertainty still dogs markets as investors debate whether the sell-off that pushed the S&P 500 into correction territory is over.
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.
W&T Offshore Stock Analysis – MarketRank™
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 twice-yearly meetings. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices.
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.
- Zelensky thanked Trump for US support and the two leaders agreed that technical teams would meet in Saudi Arabia in the coming days.
- 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.
- Bullion reached an all-time high of $3,055.31 per ounce earlier in the session.
- 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.
- According to one analyst, the rating for WTI stock is “Strong Buy” and the 12-month stock price forecast is $7.8.
- On Wednesday, the Indian stock market ended higher for the third consecutive session, with the benchmark Nifty 50 closing above 22,900 level.
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.
Tesla share price surged 4.68%, Nvidia stock price gained 1.81%, and Advanced Micro Devices shares rose 2.63%. Apple stock advanced 1.20%, while Boeing shares jumped 6.8%. “While some consolidation is possible, the overall sentiment is likely to remain positive, favoring a ‘buy on dips’ approach. We are witnessing rotational participation across key sectors, with banking, financials, metals, and energy taking the lead.
WTI Forecasts
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…
It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. 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 trades at $67.42 per barrel, up from Wednesday’s close at $67.01.
API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other How To Invest In Cryptocurrency 75% of the time. The EIA data is considered more reliable, since it is a government agency. 1 Wall Street equities research analysts have issued “buy,” “hold,” and “sell” ratings for W&T Offshore in the last year.
When OPEC forex deposit bonus 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.
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