WTI Crude Oil (WT)
Reference (marker) grade of oil that is produced in Texas (US), is mainly used to produce gasoline and therefore on the type of oil is in high demand, particularly in the US and China. The price of WTI crude oil is the basis for pricing world oil prices.
West Texas Intermediate (WTI) grade name comes from the eponymous field in West Texas.
For technically valuable petroleum products, mainly of motor fuels, solvents, raw materials for chemical industry, it is processed. Oil holds a leading position in the global energy balance: its share in the total consumption of energy is 48%. In the future, this share will decrease due to the increasing use of nuclear and other types of energy as well as increasing the cost and decreasing production.
The chemical composition and properties
WTI crude oil is classified as light sweet crude oil, its API gravity of 39.6 °, the relative density of 0.827 kg / m3, sulfur content – 0,4-0,5%.
Due to the high volatility of the profit potential is extremely high in oil transactions, but are high and losses.