West Texas Intermediate
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West Texas Intermediate (WTI), also known as Texas Sweet Light, is a type of crude oil used as a benchmark in oil pricing and the underlying commodity of New York Mercantile Exchange's oil futures contracts. This is usually the type referenced in Western news reports about oil prices, alongside North Sea Brent Crude.
WTI is a light crude, lighter than Brent Crude. It contains about 0.24% sulfur, rating it a sweet crude, again sweeter than Brent. Its properties and production site make it ideal for being refined in the United States, mostly in the Midwest and Gulf Coast regions.
Historical price data for WTI can be found at a website maintained by Energy Information Administration, Department of Energy of the US government. It is listed as WTI, Cushing, OK [1].
Typical price difference per barrel is about $1 more than Brent, and $2 more than OPEC Basket.
WTI has an API gravity of around 39.6.
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