Oil Trading Hours
The oil market is one of the financial markets that most interests Arab traders, yet many overlook a key fact: trading hours are not equal in terms of activity and liquidity. Entering the market during the Asian session with the same strategy used in the US session can produce results completely at odds with expectations, even when the technical analysis is correct. It helps to understand Forex Market Trading Hours.
This guide gives a detailed schedule of oil trading hours in Egypt and Saudi time, the difference between Brent and WTI crude, plus the most active days and hours when major traders concentrate their activity in global markets.
Note: This content is provided for educational purposes only and is not investment advice. Oil trading carries a high risk that can lead to the total loss of your capital.
Table of contents
Oil trading hours schedule in Egypt and Saudi time
The table below shows crude oil trading hours during the four main sessions, in Egypt time (UTC+2) and Saudi time (UTC+3). Hours are shown according to daylight saving time (DST), which runs from March to November:
| Session | GMT | Egypt time | Saudi time | Oil activity |
|---|---|---|---|---|
| Trading week open | Sunday 22:00 | Monday 00:00 | Monday 01:00 | Low |
| Asian session | 00:00 – 08:00 | 02:00 – 10:00 | 03:00 – 11:00 | Weak |
| European session (London) | 08:00 – 16:00 | 10:00 – 18:00 | 11:00 – 19:00 | Medium to high |
| US session (New York) | 13:00 – 21:00 | 15:00 – 23:00 | 16:00 – 24:00 | Highest activity |
| Oil inventory report (Wednesday) | 14:30 | 16:30 | 17:30 | Highest volatility |
| Week close | Friday 21:00 | Friday 23:00 | Saturday 00:00 | Closed |
During winter time (November – March), one hour is subtracted from the US session times, because the United States returns to standard time two weeks earlier than Europe and the Middle East.
Why knowing oil trading hours matters
Active market hours offer greater opportunities for speculation and investment thanks to higher liquidity. During weak hours, the price is exposed to sudden swings and slippage that can eat into the profit margin before a trade is completed.
Knowing these times helps a trader to:
- Choose entry timing during periods of tight spreads and high liquidity.
- Avoid slippage during low-activity sessions.
- Prepare in advance for market-moving news and reports, chiefly the weekly inventory report.
- Organize a trading schedule that matches market activity without disrupting daily commitments.
Brent vs WTI trading hours
Oil is traded in two main types, each with its own benchmark exchange and different active hours:
WTI – US oil
Exchange: New York Mercantile (NYMEX)
Most active hours: 15:00 – 23:00 Egypt time
Tightest spread: US session
Suits: Arab evening traders
Brent – European oil
Exchange: Intercontinental London (ICE)
Most active hours: 10:00 – 18:00 Egypt time
Tightest spread: European session
Suits: Arab daytime traders
Both types can be traded around the clock throughout the week through forex brokers using contracts for difference (CFDs), noting that the spread is tightest during each type’s active hours. Beginners are advised to start with WTI given its wide popularity and the abundance of Arabic analysis around it, and you can follow the current crude oil price before deciding to enter.
Best oil trading hours on global exchanges
The oil price is directly affected by political and economic events that can arise overnight and cause a fundamental change in price. One of the most notable historical examples is the price trading at a negative value at the start of the coronavirus crisis, for the first time in history, because global demand halted and storage tanks filled up.
In general, the best oil trading hours are concentrated in the most liquid periods, which are:
- From 15:00 to 17:30 Egypt time (9:00 – 11:30 AM US Eastern time). This period marks the opening of the US session and its overlap with the European session, when the largest number of traders are active at once.
- From 19:30 to 20:30 Egypt time (1:30 – 2:30 PM US Eastern time). An active period before the European session closes, with strong moves in WTI crude.
Wednesday: the most active day for oil
Wednesday holds a special place among oil trading days, as the US crude oil inventory report is released by the US Energy Information Administration (EIA) at exactly 16:30 Egypt time (17:30 Saudi time).
The market sees strong activity during the thirty minutes following the release. When inventory figures come in below expectations, the price tends to rise, and vice versa. Beginners are advised to avoid opening new positions during the first five minutes after the announcement, given the sharp volatility and the higher chance of a stop-loss being hit by slippage.
Pro tip
The weekly oil inventory report is one of the most active events of the trading week. To approach it without taking on high risk, it helps to start with a demo account and practice reading the market’s reactions before moving to real capital.
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Times to avoid trading oil
Avoiding the wrong times is no less important than knowing the active ones. The main periods to avoid include:
- The Asian session (02:00 – 10:00 Egypt time): liquidity drops noticeably, movement slows, and the spread widens beyond its normal level. The likelihood of slippage that can consume a stop-loss without a clear technical reason also rises.
- The weekend: the market officially closes from Friday 23:00 (Egypt time) until Monday 00:00. Some brokers allow CFD trading during this period, but the spread is doubled and liquidity is almost nonexistent.
- US public holidays: such as Thanksgiving, New Year, and Independence Day. Liquidity drops noticeably and movement stays limited throughout the day.
Oil trading via CFDs is available at most forex brokers around the clock from Monday to Friday, i.e. the same hours as forex trading. The difference lies in how liquidity concentrates during the hours mentioned above.
Quick summary: when the oil market opens and closes
- Weekly oil (petroleum) market open: Monday 01:00 Saudi time / 00:00 Egypt time.
- Weekly oil market close: Saturday 00:00 Saudi time / Friday 23:00 Egypt time.
- Most active daily crude oil trading hours: 15:00 – 23:00 Egypt time (16:00 – 24:00 Saudi time).
- Most volatile day: Wednesday at the inventory report (16:30 Egypt time / 17:30 Saudi time).
- Least suitable times to trade: Friday before the close and Monday at the open, due to weak liquidity.
Oil trading platforms and brokers
Oil is traded through forex brokers via CFDs. More than 80% of forex brokers offer the WTI/USD or UKOIL/USD pair on their platforms, such as MetaTrader 4 and MetaTrader 5. To choose a suitable broker for oil trading, you can look at a list of the best licensed brokers and review forex broker ratings before registering.
Read also
- Forex market hours and the best trading times
- How to trade oil in Saudi Arabia
- Top ways to trade oil in Saudi Arabia
Frequently asked questions
What is the best time to trade oil in Egypt time?
The best time to trade oil in Egypt time falls between 15:00 and 23:00, when the US session overlaps with the end of the European session and liquidity peaks. Wednesday in particular, at 16:30 Egypt time, sees the highest volatility because of the US oil inventory report release.
When does the oil market open in Saudi time?
The oil market opens the trading week on Monday at 01:00 Saudi time, i.e. Sunday 18:00 New York time. Trading runs 24 hours until Saturday 00:00 Saudi time, i.e. Friday 17:00 New York time.
What is the difference between Brent and WTI in trading hours?
Brent is traded mainly on the London exchange (ICE), with its most active hours during the European session from 10:00 to 18:00 Egypt time. WTI is traded on the New York exchange (NYMEX), with its most active hours during the US session from 15:00 to 23:00 Egypt time. Both are available as CFDs around the clock through forex brokers.
Can you trade oil on Saturday or Sunday?
No, the official oil market is closed on Saturday and Sunday. Trading starts Sunday evening US time (early Monday in Egypt and Saudi time) and ends Friday evening. Some brokers allow CFD trading on commodity indices over the weekend, but liquidity is very low and the spread is doubled.
How does the oil inventory report affect prices?
The US oil inventory report is released every Wednesday at 16:30 Egypt time and causes strong price volatility within 30 minutes of release. If inventory figures come in below expectations, prices tend to rise, and vice versa. Beginners are advised to avoid opening new positions in the first five minutes after the announcement, due to the risk of stop-losses being hit by slippage.
Is oil trading suitable for beginners?
Oil is one of the most volatile assets in the forex market, which means both large opportunities and high risk at the same time. Beginners are better off starting with the forex market through the major currency pairs before moving to oil, practicing first on a demo account for at least a month before risking real capital.
Related guides: How to trade gold (XAU/USD).
Disclaimer: All information in this article is for educational purposes only and is not investment advice or a recommendation to buy or sell. Trading oil and commodities carries a high level of risk that can lead to the total loss of your capital, and CFDs are leveraged products. Consult a licensed financial advisor before making any investment decision. This site may contain affiliate links to brokers, from which we may earn a commission at no extra cost to you.
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