Western Texas Intermediate
The Western Texas Intermediate (WTI), also known as Texas light sweet, is a light crude oil low in wax and sulphur content which makes it light and sweet. It is usually refined into gasoline, kerosene and diesel. It is used as a benchmark in US crude oil pricing. Usually WTI commands a higher price in the market than its Brent counterpart.
Light Sweet Crude Oil WTI is traded at the NYMEX under ticker symbol CL and at the ICE Europe under symbol T. Contract size in both exchanges is 1,000 barrels with a contract price quoted in US Dollars and Cents per barrel. Delivery dates take place every month of the year.