Chartered Market Technician (CMT) Practice Exam 2026 – Your All-in-One Guide to Exam Success!

The commonly used benchmark grade of U.S. crude oil is West Texas Intermediate (WTI). WTI is a specific type of crude oil that is produced in the United States, particularly in Texas. It is characterized as light and sweet due to its relatively low density and low sulfur content, which makes it ideal for refining into gasoline and other products.

WTI is significant because it serves as a pricing benchmark for the U.S. oil market and is widely referenced in trading and economic reports. When traders and analysts discuss crude oil prices, they typically refer to WTI prices as a standard measure.

Brent crude, while also a major global benchmark, primarily reflects prices for oil taken from the North Sea and is used for pricing international crude oil. Sour and light crude are descriptors of oil characteristics and do not represent widely recognized benchmarks; sour crude has higher sulfur content, while light crude has lower density. Thus, WTI stands out as the preferred benchmark for U.S. crude oil.