Abbreviation for West Texas Intermediate, also known as Texas light sweet – is a type of crude oil and is used as a benchmark in oil prices, along with Brent crude and Dubai crude, WTI is one of the three main traded grades of oil. WTI is described as light because of its relatively low density, and sweet because of its low sulphur content, this makes it easy to refine. It is the underlying commodity of New York Mercantile Exchange’s oil futures contracts. WTI is commonly referred to as oil by commodity traders.


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