West Texas Intermediate.
grade of crude oil used as a benchmark in oil pricing
Oil Holds Near $102 as Geopolitical Risks Offset Supply Gains
Oil prices hovered around $102 a barrel as improving Saudi export flows and possible progress in Iran talks tempered concerns over renewed U.S.-Iran conflict. China’s halt to fuel exports and reports of additional U.S. military deployments in the region kept supply risks elevated, leaving Brent on track for a weekly loss while WTI was poised to gain.
World · 9 sources · Oct 2, 2026Read it
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About West Texas Intermediate
West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX). The WTI oil grade is also known as Texas light sweet. Oil produced from any location can be considered WTI if the oil meets the required qualifications. Spot and futures prices of WTI are used as a benchmark in oil pricing. This grade is described as light crude oil because of its low density and sweet because of its low sulfur content.
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