West Texas Intermediate

WTI is high quality oil that is easily refined.

West Texas Intermediate (WTI), also known as Texas light sweet, is a grade of crude oil used as a benchmark in oil pricing. This grade is described as light because of its relatively low density, and sweet because of its low sulfur content.

The price of WTI is often referenced in news reports on oil prices, alongside the price of Brent crude from the North Sea. Other important oil markers include the Dubai Crude, Oman Crude, and the OPEC Reference Basket. WTI is lighter and sweeter than Brent, and considerably lighter and sweeter than Dubai or Oman.

The price difference between Brent Crude and West Texas Intermediate narrowed in mid-2013

WTI is refined mostly in the Midwest and Gulf Coast regions in the U.S., since it is high quality fuel and is produced within the country.

West Texas Intermediate is used as a benchmark in oil pricing. Historically, it has traded closely to Brent and the OPEC basket but currently it has been discounted against Brent crude oil. Historical price data for WTI can be found at a website by the Energy Information Administration of the Department of Energy. It is listed as WTI