WTI Crude Oil macro outlook · updated 12 November 2026
Is oil bullish or bearish?
As of 12 November 2026, oil scores 26 out of 100 on the WatchTower Terminal macro composite, a bearish read. It is scored against the global rate and risk backdrop, positioning and the desks' research. The composite blends fundamentals, the rate and risk backdrop, bank research, seasonality and positioning into one number on published weights, refreshed through the day.
Composite score
26
Bearish
56+ bullish · 45 to 55 neutral · under 45 bearish
Reading of 12 Nov, 09:30 London
What is behind the number.
- Institutional positioning
- Net long
How this score is built
Published weights, not a black box.
Copper, platinum, palladium and oil are scored on the weights shown here, on the same 0 to 100 scale as every other market, so a 56 here means what a 56 means anywhere else.
- COT level35%
- Bank research25%
- COT flow20%
- Central bank10%
- Seasonality10%
The rest of the board
Ranked strongest to weakest on the same scale.
About WTI Crude Oil
Is WTI Crude Oil bullish or bearish right now?
As of 12 November 2026, WTI Crude Oil carries a bearish macro read, scoring 26 out of 100 on the composite. 56 and above reads bullish, below 45 reads bearish, and the band between is neutral.
What is driving WTI Crude Oil?
It is scored against the global rate and risk backdrop, positioning and the desks' research. Positioning, bank research consensus and fundamentals are folded into the WTI Crude Oil composite, updated through the day.
How is the WTI Crude Oil macro score calculated?
WTI Crude Oil runs on the physical market weights: cot level 35%, bank research 25%, cot flow 20%, central bank 10%, seasonality 10%. The central bank input is the developed-market policy stance, inverted, and the score is re-weighted over the inputs oil actually has. 56 and above reads bullish, below 45 reads bearish.
Where can I track WTI Crude Oil in real time?
This page reads it live with no account. In WatchTower Terminal, Asset scores carries the live WTI Crude Oil score and every driver behind it, alongside every G10 currency, metals and global indices, and Asset in full and Score history add the written read and the full history. The terminal is $10 for your first month, then $49 a month, or $490 a year with 2 months free. Cancel from Billing at any time.
Track it live
This is 1 number. The terminal shows the working.
Every component and the weight it carries, in Asset scores, with the history of how the score has moved, the positioning behind it and the research it came from. The terminal is $10 for your first month, then $49 a month. Cancel from Billing at any time.