Oil Light Sweet (light Sweet) - it

04 january 2017, 02:32

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Oil Light Sweet is one of the standard grades of black gold on the world market. A benchmark for oil prices Light Sweet have become since 1981, its main competitor is the European brand Brent. Oil Light Sweet also known as Texas Light Sweet or West Texas Intermediate because this oil is produced in Texas USA. Texas Light oil used to produce gasoline and therefore the demand for it is high not only in USA but also in other countries such as China. On the new York Mercantile exchange, the futures is traded under the Ticker symbol CL on crude oil Texas Light.

This type of futures is one of the most popular and cost effective among the commodities of the world. Oil Light Sweet is a grade of black gold also known as Texas light sweet, which is produced in Texas USA density in degrees API is 396° relative density breakout of 0.827 chmoshnie sulfur - 04-05 % mainly used for production of gasoline and therefore, at this ciphernemo gold high demand particularly in the United States and China. Standard for prices is oil varieties WTI and Light Sweet for the Western hemisphere and is generally the benchmark for other grades of oil as well as Brent for Europe and the OPEC countries. Oil Light Sweet is a grade of oil that is produced in Texas USA density in degrees API is 396° relative density breakout of 0.

827 кгм3содержание sulfur - 04-05 % mainly used for production of gasoline and, therefore this type of oil in high demand particularly in the United States and China. WTI and Brent are virtually the same product but the difference in price between them is connected with difficulties of transportation of oil from Cushing Oklahoma to the Gulf of Mexico where oil can be recycled or where it can be sent to other countries as a replacement for more expensive lately Brent. Oil Light Sweet is the reference brand of oil. Produced in Texas USA. Mainly used for the production of gasoline and, therefore this type of oil in high demand primarily in the United States and China.

The density is 396 degrees API, sulfur content - 024%. Oil Light Sweet is West Texas grade is a marker for the imported U.S. oil. In the 1970-ies because of the embargo by the Arab member States of OPEC and the Islamic revolution in Iran the price of oil has increased about 10 times forcing the American government to introduce state regulation of domestic prices of petroleum products.

After the rejection of state regulation in 1981 WTI was the benchmark variety for trading in the United States. In 1983 on the NYMEX exchange was launched trade in futures for WTI. The volume of current production, varieties also does not exceed 1% of the world, however, is tied to about 23 of all world-traded oil futures. The basis for the pricing of WTI is the balance of inventory.

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