A grade of crude oil deliverable against the New York Mercantile Exchange light, sweet crude oil contract. Nominally, the benchmark crude of the U.S. oil industry.
Refers to a grade of crude oil produced in the Permian and Midland basin areas of west Texas. The price paid for crude oil varies according to quality.
The US benchmark crude oil; of high quality and produces a lot of petrol.... more on: West Texas Intermediate