WTI Cushing Crude Oil Spot Price

What is the WTI Cushing crude oil spot price?

Cushing is famous as a price settlement point for West Texas Intermediate oil on the New York Mercantile Exchange (NYMEX) and has been called the most significant trading hub for crude oil in North America. Cushing, Oklahoma, is a major oil supply hub connecting the Gulf Coast suppliers with northern consumers.

West Texas Intermediate (WTI), also known as Texas Light Sweet, is a type of crude oil used as a benchmark in oil pricing and the underlying commodity of New York Mercantile Exchange's oil futures contracts. WTI is a light crude oil, lighter than Brent Crude oil. It contains about 0.24% sulfur, rating it a sweet crude, sweeter than Brent. Its properties and production site make it ideal for being refined in the United States, mostly in the Midwest and Gulf Coast regions. WTI has an API gravity of around 39.6 (specific gravity approx. 0.827).

 

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