What is WTI Midland Argus?
The Argus WTI Midland price assessment represents Permian-quality WTI sold for physical delivery in the prompt month at the Enterprise and Plains terminals at Midland, Texas. The Argus WTI Midland price reflects the volume-weighted average of all spot physical trades done for WTI at Midland in a given day.
Where is WTI Midland?
Midland – This is the price point closest to the actual production of WTI. It is one of the main gathering points for WTI in West Texas before it is sent by pipeline to the Gulf Coast, Cushing, or nearby refineries.
Is WTI an index?
As part of wave of investor interest, WTI crude oil futures prices (as well as Brent Crude oil prices) are included in both the Bloomberg Commodity Index and the S&P GSCI commodity index, which are benchmark indices widely followed in financial markets by traders and institutional investors.
What is the WTI price today?
91.07
| WTI Crude | 91.07 | -0.75% |
|---|---|---|
| Brent Crude | 93.54 | +0.61% |
| Natural Gas | 4.431 | -1.23% |
| Heating Oil | 2.781 | -0.17% |
| Gasoline •16 hours | 2.670 | +0.79% |
What is WTI formula basis?
What is the WTI formula basis? Argus’ WTI formula basis represents the outright price at Cushing that is used as the basis for pricing all other Argus US Gulf coast physical crudes.
What WTI means?
“West Texas Intermediate” (WTI) oil is another benchmark used by oil markets, representing oil produced in the U.S. It is based on oil at a large tank and pipeline hub in Cushing, Oklahoma. Like Brent oil, WTI is priced as a light oil, but it doesn’t have the same global reach.
What is WTI crude symbol?
CL
WTI Crude Oil futures, ticker symbol CL, is the most actively traded crude oil futures contract, with more than 1 million contracts traded every day. WTI is a light, sweet crude oil, which refers to its low density and low sulfur content, and is often used for conversion to gasoline and diesel fuel.
What is WTI oil used for?
WTI is a light, sweet crude oil, which refers to its low density and low sulfur content, and is often used for conversion to gasoline and diesel fuel. Although WTI is priced out of Cushing, Oklahoma, this benchmark contract is tied to energy markets around the world.
What does WTI crude stand for?
West Texas Intermediate
“West Texas Intermediate” (WTI) oil is another benchmark used by oil markets, representing oil produced in the U.S. It is based on oil at a large tank and pipeline hub in Cushing, Oklahoma. Like Brent oil, WTI is priced as a light oil, but it doesn’t have the same global reach.
Can I buy WTI stock?
Shares of WTI can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
How is WTI price determined?
Unlike most products, oil prices are not determined entirely by supply, demand, and market sentiment toward the physical product. Rather, supply, demand, and sentiment toward oil futures contracts, which are traded heavily by speculators, play a dominant role in price determination.