The term ‘West Texas Intermediate’, sometimes found in news, refers to a grade of
✓ Correct answer: a) Crude oil
ExplanationWest Texas Intermediate (WTI) is a grade of crude oil that serves as a major benchmark for oil prices globally.WTI is a high-quality, light, and sweet crude oil.It is called “light” because it has a low density, and “sweet” because it contains low sulfur content.These characteristics make it ideal for refining into gasoline and other high-demand petroleum products.It is one of the three major benchmarks for crude oil prices, alongside Brent Crude (from the North Sea) and Dubai Crude.It is widely used as a reference price for oil in the Americas.WTI prices often make headlines because they reflect global oil market trends and have significant implications for energy costs, economic stability, and geopolitical dynamics.Indian Economy 257 74
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