WTI (West Texas Intermediate)

West Texas Intermediate (WTI) is a grade of crude oil primarily produced in the United States. It is considered a benchmark for oil prices due to its high quality, light weight, and low sulfur content, making it easier and cheaper to refine into gasoline and other fuels. WTI prices are determined by global supply and demand, traded on futures markets like the New York Mercantile Exchange (NYMEX). It plays a key role in setting oil prices worldwide and influences energy markets, economic policies, and investment decisions.