WTI crude oil is West Texas Intermediate, one of the most commonly used crude oils in the world. It is a light sweet crude oil extracted in the western region of Texas, USA, mainly used in the production of gasoline, diesel and aviation fuel.
WTI crude oil is characterized by low density, easy processing, low sulfur content and impurity content, and good stability. These characteristics make WTI crude one of the most popular crude oils in the world and one of the most traded futures contracts. Therefore, the price of WTI crude oil has a high authority in the international crude oil market and is also one of the important reference prices in the global crude oil market.
The price of WTI crude oil is affected by many factors, including supply and demand, political situation, monetary policy, climate change, etc. In recent years, the rise of the shale oil revolution in the United States and the development of oil and gas technology have greatly increased the crude oil production of the United States, and the supply of WTI crude oil has also increased, which has affected the international crude oil market.
In short, WTI crude oil is a light and sweet crude oil with good processing characteristics and stability, so it has an important position and influence in the global crude oil market. The price of WTI crude oil is affected by a variety of factors, which has important reference significance for investors and related industries.