West Texas Intermediate(WTI)

 

West Texas Intermediate (WTI), also known as Texas light sweet, is a Grade of Crude Oil used as a benchmark in Oil Pricing

This grade is described as light because of its relatively low density, and sweet because of its low sulfur content

It is the underlying commodity of New York Merchandile Exchange's Oil Future's Contracts

The price of WTI is often referenced in news reports on oil prices, alongside the price of Brent Crude from the North Sea

Other important Oil Markets  include - Dubai Crude, Oman Crude,Urals Oil and the OPEC Reference Basket