West Texas Intermediate Crude Oil

West Texas Intermediate Crude Oil

A blend of light, sweet crude oil drilled in the Midwestern United States and the Gulf of Mexico. It is the underlying commodity for oil futures and other derivatives traded on the New York Mercantile Exchange. West Texas Intermediate is stored and shipped from Cushing, Oklahoma. It is considered a major benchmark for the global price of oil.
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The average price for West Texas Intermediate crude oil at the New York Mercantile Exchange (NYMEX) amounted to USD (62.
Carrizo has also agreed to pay an additional USD 50m per year if the average daily closing spot West Texas Intermediate crude oil price as measured by the US Energy Information Administration is above USD 50/Bbl for any of the calendar years of 2018, 2019, 2020, and 2021, with such payments due on January 29, 2019, January 28, 2020, January 28, 2021, and January 28, 2022, respectively.
27 on July 11, 2008, the price of a barrel of West Texas Intermediate crude oil tumbled below $27 in February 2016.
The new issue is the ProShares K-1 Free Crude Oil Strategy ETF (Bats: OILK), which seeks to provide total return by providing exposure to the West Texas Intermediate crude oil futures market in an actively managed ETF.
West Texas Intermediate crude oil, which hit a 13-year low on Feb.
West Texas Intermediate crude oil prices edged slightly higher on Tuesday, limited to the upside by concerns on an oversupplied market, but finding some demand as a tropical storm approached the state of Texas, triggering speculation the state can reduce its oil production these days.
For a few producers the current $67 per barrel of West Texas Intermediate crude oil could already represent a market condition that is below break-even.
The price of West Texas Intermediate crude oil closed Thursday below $60, "a level of great psychological significance," according to the Washington Post, and a price not seen in five years.
Facing lower prices for natural gas and natural gas liquids, a dip in West Texas Intermediate crude oil and logistics issues in some shale basins, US exploration and production companies are expected to be more cautious when determining budgets for next year.
Yesterday the NYMEX West Texas Intermediate Crude Oil Price for December delivery closed up USD 0.
The OPEC Basket, including a mix of light and heavy crudes, is heavier than both Brent crude oil and West Texas Intermediate crude oil.
The move supports the ongoing rollout of the venue, whose first phase of product launches includes two crude oil benchmarks, Brent Crude priced in Euros and West Texas Intermediate Crude Oil, its maiden currency pair, Euro-US$ currency futures, and the first gold futures contract in Singapore to be settled via physical delivery.
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