Wti crude oil wikipedia

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. The WTI oil grade is also known as Texas light sweet.

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Wti crude oil wikipedia

File Talk. Read View on Commons. Tools Tools. This is a file from the Wikimedia Commons. Information from its description page there is shown below. Commons is a freely licensed media file repository. You can help. Summary Description WTI crude oil. I, the copyright holder of this work, hereby publish it under the following license:. Captions English WTI crude oil price. Items portrayed in this file depicts. Wikimedia username : Wikideas1. Creative Commons CC0 License. The following pages on the English Wikipedia use this file pages on other projects are not listed :.

Historically, there have been a number of factors affecting the global price of oil.

From Wikimedia Commons, the free media repository. Subcategories This category has only the following subcategory. Media in category "Oil prices" The following 42 files are in this category, out of 42 total. Annual and monthly averages of U. Brent crude oil futures prices, August through January

West Texas Intermediate WTI is a trading classification of crude oil and one of the most commonly used benchmarks in oil prices. WTI is one of the most referenced benchmarks used in oil news reports on oil prices, along with the Brent price — which comes from the North Sea. The oil is considered to be very light, with a low sulfur content — considerably lighter and sweeter than Brent Crude, Dubai, or Oman. WTI only contains 0. At the end of the price difference between the two benchmarks widened, and then narrowed at the end of The main trading hub for crude oil is located in Cushing, Oklahoma, and has been the delivery point for crude contracts and is the price settlement point for West Texas Intermediate on the New York Mercantile Exchange. Light Sweet Crude Oil futures and options, in particular West Texas Intermediate futures, are the most actively traded energy product in the world. West Texas Intermediate plays an important role in managing risk in the energy sector worldwide as it has high liquidity, a large number of customers, and a lot of transparency.

Wti crude oil wikipedia

In the international petroleum industry , crude oil products are traded on various oil bourses based on established chemical profiles, delivery locations, and financial terms. The chemical profiles, or crude oil assays , specify important properties such as the oil's API gravity. The delivery locations are usually sea ports close to the oil fields from which the crude was obtained and new fields are constantly being explored , and the pricing is usually quoted based on FOB free on board , without consideration of final delivery costs. Although crude oil assays evaluate various chemical properties of the oil, the two most important properties determining a crude's value are its density measured as API specific gravity and its sulphur content measured per mass. Crude oil is considered " heavy " if it has long hydrocarbon chains, or " light " if it has short hydrocarbon chains: an API gravity of 34 or higher is "light", between 31 and 33 is "medium", and 30 or below is "heavy". Generally, the higher the API gravity the "lighter" it is , the more valuable the crude. Contents move to sidebar hide.

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Tools Tools. Retrieved 31 March This means that the general price of a basket of goods would increase at a bare minimum on a year to year basis. By , there were a number of widely traded oil futures market listings. FRED Blog. Retrieved April 20, Major services companies. Related Articles. The bank's collapse sent a tremor through various financial sectors, from banking to the oil industry. ISBN The Council of Economic Advisers. Understand audiences through statistics or combinations of data from different sources.

On January 3, , WTI finished up 2.

Retrieved 25 March The reason most cited for this difference was that Cushing had reached capacity due to a surplus of oil in the interior of North America. Archived from the original PDF on 15 December The decline in China's demand for commodities also adversely affected the growth of exports and GDP of large commodity-exporting economies such as Australia minerals and the Russian Federation fuel. The price of crude was on the rise since June , after a statement by a top US diplomat that even with a nuclear deal with Iran, hundreds of economic sanctions would remain in place. Create profiles to personalise content. It is considered a valuable and efficient source of petroleum products. Investopedia requires writers to use primary sources to support their work. Archived from the original PDF on World Bank Report. When delivery dates approach, they close out existing contracts and sell new ones for future delivery of the same oil. Aladzha, Okarem. The oil importing economies like EU, Japan, China or India would benefit, however the oil producing countries would lose.