A West Texas Intermediate (WTI, Texas light sweet) is the most famous of the benchmark Oils with a Brent Crude and Dubai Crude. A WTI is the underlying commodity of NYMEX (New York Mercantile Exchange's) oil futures and refers to oil extracted from wells in the U.S., refined in the Midwest and sent via pipelines. A WTI is the light and sweet crude with a API gravity of 39.6 degrees, a specific gravity of 0.827 at 60 °F, and contains 0.24% sulphur.
Related Definitions in the Project: The Plant and Process Unit
Example Article of the WTI:
WTI’s Worst Day In 4 And A Half Years (Source: Oil Price on 2 August 2019): By Tsvetana Paraskova - The U.S. oil benchmark tumbled nearly 8 percent on Thursday in its biggest one-day drop in four and a half years after U.S. President Donald Trump rekindled fears of significant slowdown in economies and oil demand growth by announcing he would impose tariffs on US$300 billion worth of Chinese imports. On Wednesday, WTI Crude traded at $58.58 a barrel at close, while on Thursday, the U.S. benchmark crashed by as much as 7.9 percent, or by $4.63 a barrel to close at $53.95. Oil prices took a heavy hit after President Trump said that the U.S.-China trade talks—after no-breakthrough negotiations this week —would continue in September, while the “U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country.” ...