West Texas Intermediate, Definition

West Texas Intermediate (WTI) also known as Texas Light Sweet, is a premium type of crude oil that is used as a benchmark in global oil pricing along with North Sea Brent Crude. It is extracted from a region in West Texas that produces high grade, low sulphur crude.

Petroleum is considered "sweet" if it contains less than 0.5% sulfur and WTI, containing about 0.24%, is sweeter than Brent.

WTI is the underlying commodity in the NYMEX crude oil futures contract.

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