West Texas Intermediate - WTI

DEFINITION of 'West Texas Intermediate - WTI'

Light, sweet crude oil commonly referred to as "oil" in the Western world. WTI is the underlying commodity of the New York Merchantile Exchange's oil futures contracts.

BREAKING DOWN 'West Texas Intermediate - WTI'

WTI is considered a "sweet" crude because it is about 0.24% sulfur, a lower concentration than North Sea Brent crude. WTI is high quality oil that is easily refined.

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RELATED FAQS
  1. Do all oil companies received the quoted price of West Texas Intermediate for their ...

    The quoted, or spot, price of West Texas Intermediate, or WTI, crude oil is just one of several benchmark oil prices. The ... Read Full Answer >>
  2. How much inventory space is available in the United States to store oil?

    There is enough working storage capacity for oil inventory in the United States to accommodate approximately 520 million ... Read Full Answer >>
  3. What is a heavy oil differential and how does it affect oil producers?

    Heavy oil differential refers to the difference in weight, or gravity, of oil, and secondly to the resulting price differentials. ... Read Full Answer >>
  4. What is the difference between Brent Crude and West Texas Intermediate?

    The major difference between Brent Crude and West Texas Intermediate is that Brent Crude originates from oil fields in the ... Read Full Answer >>
  5. What is a derivative?

    A derivative is a contract between two or more parties whose value is based on an agreed-upon underlying financial asset, ... Read Full Answer >>
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    Norway is a highly developed country, and typically has a world GDP ranking in the top 30, with a 2014 GDP at $500 million ... Read Full Answer >>
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