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Also known as Texas Sweet Light, is a type of crude oil used as a benchmark in oil pricing and the underlying commodity of New York Mercantile Exchange's oil futures contracts. This is usually the type referenced in Western news reports about oil prices, alongside North Sea Brent Crude.
WTI is a light crude that contains about 0.24% sulfur, rating it a sweet (low-sulfur) crude, sweeter than Brent. Its properties and production site make it ideal for being refined in the United States, mostly in the Midwest and Gulf Coast regions.FERC - Cite This Source - This Definition
- Browse Related Terms: 12-month strip, Arbitrage, Delivery Point(s), Financial transmission right, Forward price curve, Futures market, Henry Hub, Locational marginal price, long, Mark-to-market, Physical basis, Reference price, Short position, Spark spread, Uplift, West Texas Intermediate (WTI)