WTI crude oil is light crude oil from West Texas in the United States. This crude oil futures contract has good liquidity and high price transparency. It is one of the three major benchmark prices in the world crude oil market. All crude oil produced in or sold to the United States is priced against light, sweet WTI.

1. West Texas Intermediate U.S. West Texas light crude oil

2. U.S. West Texas light crude oil (WTI) spot contract is regarded by many investors as an international energy source The benchmark price of the market. Many media articles also cite WTI as the representative price when describing the trend of crude oil prices. However, judging from recent trends, WTI crude oil prices are more susceptible to the impact of local supply and demand, which is inconsistent with the fundamentals of the global crude oil market. Changes have nothing to do with WTI being more of a regional oil price from this point of view. Brent crude oil generally has a stable supply and is little affected by local factors. From this point of view, compared with London Brent crude oil, the WTI crude oil futures spot contract price looks more like a regional oil price and does not have much international representation.

1. All crude oil produced in or sold to the United States is priced based on light, low-sulfur WTI. This crude oil futures contract has good liquidity and high price transparency, and is one of the three major benchmark prices in the world crude oil market.

2. Countries and regions such as Northwest Europe, the North Sea, the Mediterranean, Africa, and Yemen all use Brent crude oil as the benchmark. Since this futures contract meets the needs of the oil industry, it is considered " "A highly flexible tool for risk aversion and trading", it is also among the three major benchmarks for international crude oil prices.

3. The benchmark oil for pricing crude oil produced by major oil-producing countries in the Middle East or sold from the Middle East to Asia is the high-sulfur "Dubai" crude oil from the United Arab Emirates. This is OPEC (Organization of Petroleum Exporting Countries) oil prices, which often reflect Asia's demand for crude oil. Its spot prices are mainly traded in Singapore and Tokyo, while futures trading volume is very small.