Economy
2020
Basic Economic Terms
The term 'West Texas Intermediate', sometimes found in news, refers to a grade of
A.Crude oil
C.Rare earth elements
B.Bullion
D.Uranium
Correct Answer: Option A
West Texas Intermediate (WTI) is a specific grade of crude oil and one of the three main benchmarks for oil pricing, along with Brent Crude and Dubai Crude.
WTI is a light sweet oil, containing only 0.24% sulfur and possessing a low density, which classifies it as "light."
Hence, option (a) is the correct answer.
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