West Texas Intermediate (WTI), also known as Texas light sweet, is a grade of Crude Oil used as a benchmark in oil pricing. This grade is described as light because of its relatively low density, and sweet because of its low sulfur content. WTI is refined mostly in the Midwest and Gulf Coast regions in the U.S. It is quoted in U.S. Dollars per barrel and an international lot size consists of 1000 barrels.
Cushing, Oklahoma is a major trading hub for crude oil and has been the delivery point for crude contracts and therefore the price settlement point for West Texas Intermediate on the New York Mercantile Exchange for over three decades. West Texas Intermediate is used as a benchmark in oil pricing. Historically, it has traded closely to Brent and the OPEC basket but currently it has been discounted against Brent Crude Oil.
US Crude can be traded on our platform on the following times
12:00 am to 11:00 pm (Central European Time) Monday to Friday.
10:00 pm to 09:00 pm (GMT) Sunday to Friday.
Commodity)
Crude
US Crude Oil quoted in U.S. Dollars
1000 barrels (1 standard lot)
10 barrels (1 oil barrel = 159 liters approximately)
United States Dollars
0.01 (example price: $102.54 changes to $102.55 at least)
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