Western Texas Intermediate Crude Blend is the main oil benchmark for North America as it is sourced from the United States, primarily from the Permian Basin. The oil comes mainly from Texas. It then travels through pipelines where it is refined in the Midwest and the Gulf of Mexico. The main delivery point for physical exchange and price settlement for WTI is Cushing, Oklahoma. WTI is known as a light sweet oil because it contains around 0.34% sulfur, making it “sweet” and has a low density (specific gravity), making it “light.”
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