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The United States Oil Fund is an exchange-traded fund (ETF) that attempts to track the price of West Texas Intermediate (WTI) Light Sweet Crude Oil. [1] [2] It is distinguished from an exchange-traded note (ETN) since it represents an ownership claim on underlying securities that the fund has packaged. [3]
High-quality, low-sulfur crude oil is commonly used for processing into gasoline and is in high demand, particularly in industrialized nations. Light sweet crude oil is the most sought-after version of crude oil as it contains a disproportionately large fraction that is directly processed ( fractionation ) into gasoline ( naphtha ), kerosene ...
The WTI oil grade is also known as Texas light sweet. Oil produced from any location can be considered WTI if the oil meets the required qualifications. [2] Spot and futures prices of WTI are used as a benchmark in oil pricing. This grade is described as light crude oil because of its low density and sweet because of its low sulfur content.
Light sweet crude from West Africa has almost completely been replaced by light sweet crude produced domestically in places like North Dakota and South Texas. 3. Imports to U.S. regions
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Blue Dolphin Energy Company is a publicly traded Delaware corporation, headquartered in Houston, primarily engaged in the refining and marketing of petroleum products to be used as jet fuel, or as "a light sweet crude." [2] The company also provides tolling and storage terminaling services.
Stock market news live updates: Stocks crater, Dow hits 2022 low, and oil plunges as Fed and growth fears roil markets Alexandra Semenova Updated September 23, 2022 at 4:35 PM
The clear cut definition of light and heavy crude varies because the classification is based more on practical grounds than theoretical. The New York Mercantile Exchange (NYMEX) defines light crude oil for domestic U.S. oil as having an API gravity between 37° API (840 kg/m 3) and 42° API (816 kg/m 3), while it defines light crude oil for non-U.S. oil as being between 32° API (865 kg/m 3 ...