What is WTI raw oil

WTI oil price

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WTI oil price in comparison

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Interesting facts about the WTI oil price

With a share of almost 40 percent, crude oil is the most important energy supplier worldwide, ahead of coal and natural gas. As the most important fossil fuel, oil became the first trillion dollar industry and is by far the most important commodity in world trade. Most of the crude oil produced is used in the automotive industry, which accounts for more than half of all crude oil use in the United States. Other important buyers of crude oil are the producers of heating oil and the chemical industry. In addition to its property as an energy carrier, oil is the primary raw material for the manufacture of plastics. According to Goldman Sachs, the production volume of crude oil is 45% of the production of all raw materials. The two most important trading centers for crude oil are the New York Mercantile Exchange (NYMEX) and the electronic trading platform Intercontinental Exchange (ICE), on which the two most important types of crude oil are traded in USD. These are Brent and WTI. Brent crude oil comes from the North Sea and is the most important type of oil for Europe.

West Texas Intermediate (WTI) is a sweet, light crude oil from the southern United States. Because of its low sulfur content, this crude oil is particularly suitable for refining mineral oil and producing gasoline. The prices of the crude oil WTI and the crude oil Brent are usually identical. However, there may also be minor differences in crude oil prices. WTI crude oil is quoted in US $ per barrel. One barrel of oil is equivalent to 158.987 liters of oil.

Analogous to all oil prices, the price for WTI crude oil is decisive for the price of petrol and therefore of great importance for the development of the world economy. Other types of oil are Dubai Fateh, Leona, Tijuana, Alaska North Slope, Zuetina and Urals.

Private investors can invest in stocks of companies in the oil industry. In addition to the DAX companies, ETCs for raw materials such as crude oil can also be an interesting alternative in order to participate in the development of the WTI oil price.