Today we share a series of charts on crude oil. You will see “WTI” referenced in these charts.
WTI refers to oil extracted from wells in the U.S. and sent via pipeline to Cushing, Oklahoma. The fact that supplies are land-locked is one of the drawbacks to West Texas crude – it’s relatively expensive to ship to certain parts of the globe. The product itself is very light and very sweet, making it ideal for gasoline refining, in particular. WTI continues to be the main benchmark for oil consumed in the United States.
Reminder: These charts come to us compliments of independent economist Fritz Meyer, a seasoned economic and markets analyst whose insights appear regularly on CNBC, Bloomberg TV and the Fox Business Network.
Clicking on each chart will maximize it in your browser.