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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).
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 ...
West Texas Intermediate (light blue) alongside other selected North American oil benchmarks. West Texas Intermediate is used primarily in the U.S. It is light (API gravity) and sweet (low-sulfur) thus making it ideal for producing products like low-sulfur gasoline and low-sulfur diesel. Brent is not as light or as sweet as WTI but it is still a ...
Even in 2020, when the COVID-19 pandemic turned global markets upside-down and the price of U.S. crude oil went negative for the first time ever, there were only nine days when Waha prices were ...
According to data from AAA, gas prices in Texas are nearing the national average. While the average price of regular gas in the United States is $3.63 per gallon, Texas residents pay an average of ...
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The three most quoted oil products are North America's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price ...
Crude oil prices were on a roller coaster ride in 2022, going north of $130/barrel in March amid the Russian invasion of Ukraine. Today, West Texas Intermediate is trading at around $80 while ...