WTI crude
MacroDefinition
West Texas Intermediate. The US oil benchmark, produced primarily in Texas, New Mexico, North Dakota. Trades on NYMEX/CME.
WTI peaks in spring (driving season demand), troughs in fall. The Cushing, OK storage hub is the delivery point. Overflow at Cushing has historically driven negative WTI prices (April 2020 the famous example).
WTI peaks in spring (driving season demand), troughs in fall. The Cushing, OK storage hub is the delivery point. Overflow at Cushing has historically driven negative WTI prices (April 2020 the famous example).