The term ‘West Texas Intermediate’ sometimes found in news
The term 'West Texas Intermediate' sometimes found in news, refers to a grade of
- Crude oil
- Bullion
- Rare earth elements
- Uranium
Answer: A
Explanation
West Texas Intermediate (WTI) crude oil is a specific grade of crude oil and one of the main three benchmarks in oil pricing, along with Brent and Dubai Crude.
WTI is known as a light sweet oil because it contains 0.24% sulfur, making it "sweet," and has a low density, making it "light." It is the underlying commodity of the New York Mercantile Exchange's (NYMEX) oil futures contract and is considered a high-quality oil that is easily refined.
- Exam Year: 2020