The stock symbol for crude is WTI, which stands for West Texas Intermediate. Used as a benchmark in oil pricing, WTI is also referred to as Texas light sweet oil.
WTI is a light crude oil mostly refined in the Midwest and Gulf Coast regions in the United States. The oil has an API gravity of 39.6 and contains about 0.24 percent sulfur, which makes it a sweet crude oil. Even though WTI is the benchmark in oil pricing, it has generally traded closely to Brent crude oil. WTI is often used as a reference in news reports related to the increase or decrease of oil prices.