WTI Crude Oil Rises 2% to $101.50 a Barrel as Price Tops $100

WTI crude oil rose 2% to $101.50 per barrel on Oct. 28, crossing $100 and marking the first three-digit quote in a run of updates dating to July.

Earlier quotes placed WTI at $86.73 on July 22 after a 2% daily increase, $84.21 on Aug. 11 after a 2.5% rise and $90.99 on Oct. 8 after a 3% gain.

Those comparisons show how the same percentage move represents a larger dollar change at a higher oil price. At those price levels, a 2% change works out to roughly $2 per barrel at $101.50 and $1.73 at $86.73. The latest quote was $14.77 above the July 22 level. Percentages measure relative changes, while the per-barrel quote sets the market's price level.

WTI's inflation sensitivity gives the move broader relevance for U.S. market readers as the benchmark crosses into a higher nominal price range.