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West Texas Intermediate ( WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX). The WTI oil grade is also known as Texas light sweet ...
Light crude oil is liquid petroleum that has a low density and flows freely at room temperature. [1] It has a low viscosity, low specific gravity and high API gravity due to the presence of a high proportion of light hydrocarbon fractions. [2] It generally has a low wax content. Light crude oil receives a higher price than heavy crude oil on ...
West Texas Intermediate WTI is a sweet, light crude oil, with an API gravity of around 39.6 and a specific gravity of about 0.827, which is lighter than Brent crude. It contains about 0.24% sulphur thus is rated as a sweet crude oil (having less than 0.5% sulphur), sweeter than Brent which has 0.37% sulphur. WTI is refined mostly in the Midwest ...
Sweet crude oil contains small amounts of hydrogen sulfide and carbon dioxide. High-quality, low-sulfur crude oil is commonly used for processing into gasoline and is in high demand, particularly in industrialized nations. Light sweet crude oil is the most sought-after version of crude oil as it contains a disproportionately large fraction that ...
The United States Oil Fund ( NYSE Arca : USO) is an exchange-traded fund (ETF) that attempts to track the price of West Texas Intermediate Light Sweet Crude Oil. [1] [2] It is distinguished from an exchange-traded note (ETN) since it represents an ownership claim on underlying securities that the fund has packaged. [3]
A benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West Texas Intermediate (WTI), Brent Blend, and Dubai Crude. Other well-known blends include the OPEC Reference Basket used by OPEC, Tapis Crude which is traded in Singapore, Western Canadian ...
April 2, 2024 at 10:22 AM. Oil futures continued their march higher on Tuesday, pushing WTI crude oil to its highest level since October. WTI crude oil futures ( CL=F) briefly topped $85 per ...
The three most quoted oil products are North America 's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price ...
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