What does West Texas Intermediate Crude - WTI mean?
A type of crude oil that has light and sweet characteristics that is primarily produced and used in North America, and is a key benchmark crude in the oil futures market. West Texas Intermediate grade of crude oil has a relatively low density at 39.6 (API gravity) which makes it a lighter crude oil and has low sulphur levels at 0.24%, which makes it a sweeter crude.
West Texas Intermediate trades on the NYMEX (Symbol: CL) and ICE exchanges (Symbol: WTI).
Futures Knowledge Explains West Texas Intermediate Crude - WTI
West Texas Intermediate is a high quality grade of oil that is used to produce low sulphur gasoline and diesel. It's often quoted in media reports that reference the current price of oil in the marketplace. Among the top three benchmark crude grades (WTI, Brent Crude and Dubai), WTI is the lightest and sweetest among the three.