What is West Texas Intermediate?
[[File:Crude oil spread.svg|thumb|400px|Spot price of West Texas intermediate in relation to the price of Brent crude]] '''West Texas intermediate''' ('''WTI'''), also known as '''Texas light sweet''', is a grade of [[oil]] used as a [[benchmark (crude oil)|benchmark]] in oil [[pricing]]. This grade is described as light crude oil because of its relatively low density, and [[Sweet crude oil|sweet]] because of its low sulfur content. It is the [[underlying]] [[commodity]] of [[New York Mercantile Exchange]]'s oil [[futures contract]]s. The price of WTI is often included in news reports on oil prices, alongside the price of [[Brent crude]] from the [[North Sea]].<ref>[[Marius Vassiliou]] (2009). Historical Dictionary of the Petroleum Industry. Lanham, MD: Scarecrow Press. {{ISBN|0-8108-5993-9}}.</ref> ==Notes== {{reflist}} [[Category:Petroleum]] {{stub}}