Crude oil (US Oil -WTI)
Us Crude Oil: (WTI) West Texas intermediate is a grade of crude oil that is referred to as Light and sweet due to its low density and low sulphur content. These molecular properties make the mineral perfect for producing high-end gasoline products, hence why it's the primary benchmark of crude oil in the Americas.
WTI is known as it is the underlying commodity of the NYC Mercantile Exchange’s oil futures contract. This market remains a critical factor in the weekly crude oil inventories report that measures the change throughout worldwide supply and demand. These figures also estimate the weekly change in the number of commercial crude barrels held by US firms.
Fundamentally, if an increase in crude supply is less than expected, it implies higher demand and is bullish for oil prices. The same can be said if a decline in inventories is more than expected this will reflect bearish on the prices. The directional bias of this instrument can also be predicted with Price action on a technical chart. There is an expectation that prices will remain relatively bullish. The chart symbol for this instrument is WTI.