What is West Texas Crude (WTI)?
West Texas Crude is a high-quality crude oil, and is used as a benchmark for determining the global price of oil. This ore has a low sulfur content that does not exceed 0.24%. And also has a light weight of 0.827 on the API scale. This ore is the main source of gasoline in North America.
West Texas crude is extracted from oil fields in Texas, Louisiana and North Dakota. Also, crude oil is transported to the city of Cushing, and this city is the junction center for a large group of oil pipelines. From there, oil is exported to American ports.
Due to the importance of West Texas crude, it has been adopted by the New York Stock Exchange as a name for any oil mixture with the same specifications, regardless of where it is extracted.
West Texas crude as commercial grade
Unlike Brent Crude, WTI oil is not linked to any specific crude oil that is produced from any particular oil fields. Alternatively, WTI Crude Oil can be described as a light oil that is traded and delivered in Cushing, Oklahoma.
Pipelines in those areas also began to deliver crude, other grades of oil produced and blended elsewhere. Which is also accepted as West Texas Intermediate crude oil.
The lightness of the crude oil is characterized by the attractiveness of the oil, and the sweetness of the crude oil is characterized by its sulfur content.
Measurements of the lightness and sweetness of WTI change, depending on the particular light and sweet oil traded in Cushing at the time of measurement.