Crude Oil WTI

WTI (West Texas Intermediate) is the price benchmark for light, low-sulfur crude oil produced in the US. As the reference for the North American market, WTI is, together with Brent, one of the main indicators by which world oil prices are followed.

WTI futures trade on NYMEX, part of CME Group, with physical delivery at the Cushing storage hub in the state of Oklahoma. Because of this delivery point, inventory levels and pipeline capacity at Cushing also influence the WTI price; the negative price seen at the expiry of a contract in spring 2020 is cited as an example of how storage constraints can affect pricing.

The WTI value on Lzzo.com is based on front-month NYMEX contract (CL=F) data obtained via Yahoo Finance and is shown in US dollars per barrel. Weekly inventory reports from the US Energy Information Administration, US production, OPEC decisions and global demand expectations are factors affecting the price. The futures price differs from the spot price of physical oil and from fuel pump prices.