8 Information about US West Texas Intermediate crude.. Get to know it
Brent crude and US West Texas Intermediate crude are the most traded types of oil around the world, and the following is the most important information related to US Texas crude and it was as follows..
1- It is extracted from oil fields in the United States.
2- It is extracted mainly from Texas, Louisiana and North Dakota.
3- Then it was transported via a pipeline to Cushing, Oklahoma for delivery.
4- Technological developments in the early 2000s led to the possibility of extracting oil from oil shale, a process that was believed to be impossible at that time. American.
5- West Texas Intermediate oil traders, in a similar way, monitor supply and demand factors in the United States, any confusion that may occur in Brent or WTI would cause a change in the price margin between WTI and Brent crude, Which leads to the movement of one market more aggressively than the other.
6- West Texas Intermediate crude, contains 0.24% of sulfur.
7. In the past, WTI was trading at a higher price than Brent Crude, however due to the shale oil production revolution in the early 2000s (in which WTI production rose) along with more imports into the US from Canada, it fell The price of West Texas Intermediate crude, usually now trading at a lower price than Brent crude.
8- During the current time, West Texas Intermediate crude comes to be the benchmark for oil prices in the United States, while the rest of the world - and nearly two-thirds of all oil contracts traded - are priced according to Brent crude, which makes Brent crude a standard on the market. global level.
Keywords
Oil prices today
oil in the world
Brent crude
Oil prices in America
oil prices