Trading hours
WTI follows CME Globex hours and Brent follows ICE hours. CFD brokers typically open oil around 23:00 UK on Sunday, pause for about an hour around 22:00 UK each day, and close at 22:00 UK on Friday, though exact times vary by broker and follow its server clock.
| When | UK time | New York time | Note |
|---|---|---|---|
| Weekly open | Sunday 23:00 | Sunday 18:00 | WTI on CME Globex. ICE Brent also opens at 23:00 London time on Sunday. CFD brokers typically open at the same time (01:00 on a GMT+2 server clock). |
| Daily break | 22:00 to 23:00 (WTI); 23:00 to 01:00 London (Brent) | 17:00 to 18:00 (WTI) | WTI futures stop for 60 minutes each weekday. Brent futures trade 01:00 to 23:00 London time. CFD hours vary: some brokers open Brent later on Tuesday to Friday. |
| Friday close | Friday 22:00 | Friday 17:00 | Typically, for WTI and for most oil CFDs. Some brokers stop a few minutes earlier. |
| Busiest hours | 13:00 to 19:30 | 08:00 to 14:30 | US traders are active. The WTI settlement price is set from 14:28 to 14:30 New York time and Brent from 19:28 to 19:30 London time, so volume builds into those minutes. |
WTI hours are set by Chicago and New York time; Brent hours are set by London time. For most of the year the WTI break runs from 22:00 to 23:00 UK. In the gap weeks when the US has changed its clocks and the UK has not (two weeks in March, one week around late October or early November), the WTI break and Friday close move one hour earlier in UK time, to 21:00. Brent hours do not move in UK time, because ICE sets them in London time. The EIA report at 10:30am New York time lands at 15:30 UK for most of the year and 14:30 in the gap weeks. Your broker's chart follows its own server clock.
What is Crude oil (WTI and Brent)?
Crude oil is priced in US dollars per barrel. Two prices matter. WTI (West Texas Intermediate) is the US benchmark, traded as the CME light sweet crude futures contract and delivered at Cushing, Oklahoma. Brent is the international benchmark from the North Sea, traded on ICE Futures Europe in London. Most CFD brokers offer both, often named USOIL or XTIUSD for WTI and UKOIL or XBRUSD for Brent.
The two usually move together, with Brent normally a few dollars a barrel above WTI. Oil reacts to supply news (OPEC+ decisions, wars, sanctions, US stockpiles) and to the health of the world economy, so it can move sharply on headlines at any hour.
The trading sessions
Usually quieter. Price can still jump on overnight headlines about OPEC+, the Middle East or China.
Brent volume picks up with European traders. Moves often build ahead of the US open.
The busiest stretch. The NYMEX trading floor hours and the 14:28 to 14:30 New York settlement window bring the most volume. Wednesday's EIA report at 15:30 UK is the biggest scheduled event of the week.
Volume falls after settlement. The API stockpile estimate on Tuesday at 21:30 UK can move price before the break.
Contract facts
Oil is quoted in US dollars per barrel to two decimals, and some brokers show a third. The smallest step on the futures is 0.01, one cent, often called a tick or point. A move from 70.00 to 71.00 is 100 ticks.
Varies by broker. 1 lot is commonly 1,000 barrels (matching the futures) or 100 barrels. Check the contract size in your broker's symbol specification before you trade.
On a 1,000 barrel lot, one tick (0.01) is worth 10 US dollars and a 1.00 move is worth 1,000 dollars. On a 100 barrel lot, one tick is worth 1 dollar.
CME light sweet crude oil futures (WTI, symbol CL): 1,000 barrels, minimum move 0.01 per barrel (10 dollars), physically delivered at Cushing, Oklahoma. ICE Brent crude futures: 1,000 barrels, minimum move 0.01 per barrel, traded 01:00 to 23:00 London time. Smaller versions exist, such as CME Micro WTI (100 barrels).
How far it usually moves
Varies; check the Average daily range indicator. It averages the distance from each day's high to its low (by default over the last 14 days) and draws the expected high and low for today. We do not quote a fixed number because the range changes with news and volatility. Oil ranges are usually measured in points (cents) or in whole dollars per barrel moved.
What moves Crude oil (WTI and Brent)
OPEC+ production decisions and comments from Saudi Arabia and Russia.
Weekly US stockpile data: the EIA report on Wednesday and the API estimate on Tuesday.
Wars, attacks on shipping or oil sites, and sanctions on oil producing countries.
Signs of world economic growth or slowdown, especially from China and the US.
The US dollar. Oil is priced in dollars, so a weaker dollar tends to support it.
Hurricanes in the Gulf of Mexico, which can shut production and refineries.
The number of working US oil rigs (Baker Hughes count on Friday).
Scheduled events to watch
Usually Wednesday. Moves to another day in holiday weeks; check the EIA schedule.
Usually Tuesday. A private industry estimate published before the official EIA data.
Fridays.
Not on a fixed timetable. Decisions often come at weekends, which can open oil with a gap on Sunday night.
Eight meetings a year. Press conference 30 minutes later. Remaining dates: 8 to 9 December 2026 (decision on the 9th). 2027: 26 to 27 January, 16 to 17 March, 27 to 28 April, 8 to 9 June, 27 to 28 July, 14 to 15 September, 26 to 27 October, 7 to 8 December (2027 dates are tentative until confirmed).
Usually the first Friday of the month. Next: 6 November and 4 December 2026.
What it tends to move with
WTI and Brent nearly always move in the same direction; the gap between them (the spread) changes slowly.
Oil tends to rise when the US dollar weakens.
Oil tends to move with the Canadian dollar, because Canada is a big oil exporter (so USD/CAD tends to fall when oil rises).
These are tendencies, not rules. Supply shocks can break any of them.
Tips for trading Crude oil (WTI and Brent)
Do not hold a tight stop into the EIA report at 15:30 UK on Wednesday. Wait for the first 5 minute candle after the release to close. A move is confirmed if it holds beyond that candle; a close back through the candle's opposite end proves it wrong.
Check your broker's contract size before sizing. A 50 point stop means very different money on a 1,000 barrel lot and a 100 barrel lot.
Watch the WTI settlement window at 14:28 to 14:30 New York time (19:28 to 19:30 UK). Price often moves into it and then fades. A breakout made just before settlement is wrong if price closes back inside the range within the next hour.
Use the previous day high and low and round dollar levels, such as 70.00. A long above a round level is wrong if price closes back below it on the hourly chart.
Expect Sunday gaps after weekend OPEC+ or geopolitical news. A gap fill idea is wrong if price makes a new extreme beyond the opening candle in the first hour.
Oil can move 100 points or more in minutes on headlines. Keep stops beyond real levels, measured in points, and use smaller lots instead of tighter stops.
Connect your cTrader account once and your broker's WTI and Brent symbols appear on WickSpeak at your broker's own prices. Trades are placed only from a Playbook play where you switch live trading on; otherwise WickSpeak just reads the chart. Key levels (pivots, previous day high and low, the open, average daily range levels, round numbers) are drawn with how many points away each one is, and every indicator writes a plain-English reading on the live candle.
Related markets
Sources: cmegroup.com, ice.com, eia.gov, ir.eia.gov, pepperstone.com, admiralmarkets.com, federalreserve.gov. Checked 2026-11-05. Broker hours follow your broker's server clock and can differ.
Questions traders ask
What time does the oil market open on Sunday in the UK?
WTI futures open at 23:00 UK time on Sunday (6pm New York), and ICE Brent opens at 23:00 London time. Most oil CFDs open at about the same time. Check your broker, because some open later.
What time is the EIA oil inventory report?
Usually Wednesday at 10:30am New York time, which is 15:30 UK for most of the year. In holiday weeks it moves, so check the EIA release schedule.
What is the difference between WTI and Brent?
WTI is the US benchmark, delivered at Cushing, Oklahoma, and traded on CME. Brent is the international benchmark from the North Sea, traded on ICE in London. They usually move together, with Brent normally priced a few dollars higher.
Does oil have a daily break?
Yes. WTI futures stop for one hour each weekday, 22:00 to 23:00 UK for most of the year. Brent futures trade from 01:00 to 23:00 London time. CFD brokers usually pause around the same times.
How big is one lot of oil?
It depends on the broker. Many CFD brokers set 1 lot at 100 barrels and others at 1,000 barrels. The exchange futures for both WTI and Brent are 1,000 barrels. Always check the contract size in your platform before trading.