About WTI Crude Oil
West Texas Intermediate (WTI) crude oil is a light, sweet crude oil that serves as the primary benchmark for oil prices in North America. It is extracted mainly from the Permian Basin in Texas and traded on the New York Mercantile Exchange (NYMEX).
WTI vs Brent Crude
WTI typically trades at a slight discount to Brent crude, the global benchmark, due to logistical factors. The spread between the two varies and is closely watched by traders as an indicator of regional supply dynamics.
What Moves the WTI Price?
- OPEC+ production decisions
- U.S. crude inventory data (EIA weekly reports, released Wednesdays)
- Geopolitical events in oil-producing regions
- U.S. dollar strength (oil is priced in USD)
- Global demand outlook and economic data
