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West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX) .
English: The chart in the figure shows the change in WTI oil prices between 2013 and 2023 (data availability by CNBC). The x-axis of the graph shows dots of different colours for each year, representing the start price, end price, and the highest and lowest prices for each year. y-axis represents the price of oil in US dollars per barrel.
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
WTI crude oil futures settled at their lowest level since January 25 on Tuesday as energy prices continue to moderate.
Oil prices reversed course and slid as concerns over weak gasoline demand outweighed worries of crude ... "Any supply disruption in the Red Sea area could catapult prices to near $80.00 for WTI ...
Oil finished the first full week of September at a nine-month high. Brent ended September 8 at $90.65, highest since November, with WTI at $87.51. [32] WTI reached $95.03, highest since August 2022, and Brent peaked at $97.69, highest since August 2022, due to low supplies, before falling due to profit taking on September 28. [33]
Based on Friday’s price action and the close at $58.53, the direction of the October Brent crude oil market on Monday is likely to be determined by trader reaction to the long-term Fibonacci ...
Using benchmarks makes referencing types of oil easier for sellers and buyers. There is always a spread between WTI, Brent and other blends due to the relative volatility (high API gravity is more valuable), sweetness/sourness (low sulfur is more valuable) and transportation cost. This is the price that controls world oil market price.