The term ‘West Texas Intermediate’, sometimes found in news, refers to a grade of
[UPSC Civil Services Exam – 2020 Prelims]
(a) Crude oil
(b) Bullion
(c) Rare earth elements
(d) Uranium
Answer: (a)
Explanation:
- West Texas Intermediate (WTI) crude oil is a specific grade of crude oil and one of the main three benchmarks in oil pricing, along with Brent and Dubai Crude.
- WTI is known as a light sweet oil because it contains between 0.24% and 0.34% sulfur, making it “sweet,” and has a low density (specific gravity), making it “light.”