Trading Glossary
XTI/USD is a common trading symbol for West Texas Intermediate (WTI) crude oil priced in US dollars per barrel. WTI is the main benchmark for US oil and is offered as a CFD by many brokers and prop firms. Its price is driven by supply and demand, OPEC+ decisions, inventory data and geopolitical events.
Ahead of the weekly US crude oil inventory report, a trader expects a larger-than-expected draw in stocks and opens a long position of 0.1 lots on XTI/USD. With a contract size of 1,000 barrels per lot, 0.1 lots equals 100 barrels, so a $1 move in the oil price changes the position value by $100. If WTI rises $2.50 after the release, the trade gains $250.
Oil can move several dollars within minutes when inventory data or OPEC+ headlines surprise the market. Spreads may widen, and stop-loss orders can be filled at a worse price than planned.
In a funded account, traders should check whether news trading is allowed, reduce their position size around major releases and make sure a single trade cannot threaten the daily drawdown limit.
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