What type of crude oil is the benchmark for pricing in the Americas?

West Texas Intermediate is the crude-oil benchmark for pricing in the Americas.

WTI is a light, sweet crude produced mainly in the United States. Its benchmark price is associated with the trading hub at Cushing, Oklahoma, where extensive storage and pipeline connections make it a central delivery point. WTI futures are traded on the New York Mercantile Exchange and are widely used to price crude produced in the United States, Canada, Mexico, and parts of South America.

A common mix-up is Brent crude, another major benchmark. Brent is linked primarily to crude from the North Sea and is especially influential in Europe and international seaborne trade. Dubai and Oman pricing is more closely associated with Middle Eastern crude sold into Asian markets. The differences reflect geography, crude quality, transport routes, and regional trading practices.

WTI is described as “light” because it has relatively low density and “sweet” because it contains relatively little sulfur. Those qualities generally make it easier and less costly to refine into fuels such as gasoline and diesel.