// definition
WTI
West Texas Intermediate
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Short definition
The US benchmark crude, quoted in New York. With Brent, one of the two global reference prices.
risk atlas
Knowledge map
Intuition
WTI reads the American crude market, highly sensitive to inventories, refining and domestic logistics constraints.
Formula
oil stress = spot price + curve structure + inventories + positioningWhy it matters now
After a geopolitical shock, the gap between WTI, Brent and inventories says whether the strain is local, global or mostly financial.
Related analyses
- Oil: the Chinese inventory capping pricesReserves, Brent prices and Chinese buying behaviour.
- China crude imports fallPhysical flows, margins and market power.
- Hormuz reopensNormalisation, price scenarios and geopolitical premia.
Related guides
- Reading the oil marketPrices, curve, inventories, OPEC and physical data.
Related datasets
- risk.jsonPublic snapshot of the risk signals.
- signals/history.jsonPoint-in-time history of the signals.
- risk-diff.json1, 7 and 30-day diff of signals, sources and models.
- evidence-graph.jsonClaims, evidence and their sources as a graph.
Signals using it
- Energy MonitorMethodology of the energy stress signal.
- Risk DiffRecent change in risk and source freshness.
Primary sources
- U.S. Energy Information AdministrationOil, gas, inventories, production and the Short-Term Energy Outlook.
- Commodity Futures Trading CommissionFutures positioning through the Commitments of Traders.
- World Bank Open Data & OECD DataMacro comparables and commodity prices.