West Texas Intermediate (West Texas Intermediate), sometimes called "Texas Light Oil," is one of the well-known oil indices that plays a significant role in commodity trading. It is one of the three leading oil indices used in trading, the other two being Brent crude oil and Dubai/Oman oil.

WTI is a light oil used to indicate oil prices in the world markets. The main reason for this name is that most of this oil is extracted from the west of Texas.

Since oil's standard and final use are strongly related to the place it is extracted, it is traded in most indices. These indicators allow oil traders to quickly know what type of oil they sell (which will eventually be delivered to them).

WTI is a type of light and sweet oil. This means that it has less concentration and less sulfur in its composition, making it easy to refine. After Brent crude oil, WTI is the world's second most-traded oil index and is traded on the New York Mercantile Exchange (NYMEX).

Unlike Brent crude oil, WTI crude oil is not produced only from a specific oil field. Instead, WTI can be described as sweet, light oil traded and delivered in Cushing and Oklahoma. WTI crude oil is also known as WTI Midland, which refers to Midland, Texas, and WTI Houston, which refers to Houston, Texas. Historically, local trades between oil production and refineries around Midland, Texas and Cushing, Oklahoma, represented WTI crude oil. Still, as local production in these areas declined, pipelines began to transport crude oil to these areas. The raw material is produced and combined in other regions with a different quality; This new oil is accepted as WTI. The WTI futures contract formalized this new oil by specifying that the deliverables must be light and sweet. The lightness of crude oil is determined by gravity or the gravity of oil, and the sweetness of crude oil is determined by its sulfur content. The measurement of the lightness and sweetness of WTI depends on the specific light and sweet oil that is traded in the Cushing area of the state of Oklahoma at the time of measurement, and even sometimes, the method of measuring this oil may change in terms of lightness and sweetness.

WTI oil prices are often mentioned in news reports alongside Brent crude oil. It should be noted that Brent crude oil is extracted from the coast of the North Atlantic Ocean in Northern Europe.

The price of WTI oil tends to align with the cost of Brent crude oil, although various global events cause the value of each commodity to vary.

Other essential oil indices include Dubai crude oil, Oman crude oil, Ural oil and the OPEC reference basket. Brent crude oil and West Texas Intermediate (WTI) are two types of crude oil that are heavily traded and are used to determine oil prices. The main differences between these two types of crude oil are the extraction place and their composition or content.

The price of WTI crude oil at the time of writing this article is $75.40.