WTI Oil Eases to $103.37 as Bitcoin Traders Assess Inflation

Oil prices give Bitcoin (BTC) traders one macroeconomic signal to monitor, with West Texas Intermediate (WTI) spot crude easing to $103.37 a barrel at Cushing, Oklahoma, on Oct. 27 after reaching $105.25 a day earlier.

The daily series recorded $94.99 a barrel on Oct. 12, followed by $105.25 on Oct. 26 and $103.37 on Oct. 27. The latest observation was released Oct. 28. These figures track spot crude at Cushing, not a specified futures contract, so they are not interchangeable with futures prices unless the contract and observation period match.

The U.S. Consumer Price Index (CPI) rose 0.6% from August on a seasonally adjusted basis and 3.7% over 12 months in September. The gasoline index climbed 9.1% that month, accounting for more than half of the overall CPI increase.

U.S. retail gasoline averaged $4.35 a gallon in September, with higher crude prices and rising refining margins contributing to the increase.

Brent crude was projected to average $105 a barrel in the fourth quarter of 2026. Oil prices were also projected to generally decline from their early-October average, with Brent averaging $87 a barrel in the second quarter of 2027.

Those forecasts cover Brent averages over future quarters, while the recent readings cover WTI spot crude at Cushing. The benchmarks and time periods differ, so the figures describe separate parts of the oil market. Together with the CPI data, they provide inflation context for Bitcoin traders, but do not set a BTC price target.

The U.S. Bureau of Labor Statistics has scheduled the October CPI release for Nov. 10 at 8:30 a.m. ET.