WTI is a benchmark for light, low-sulfur US crude oil. This chart tracks a perpetual contract referencing WTI, not physical delivery or a dated futures contract. Supply, inventories, demand and funding payments can affect its price.
History and development
NYMEX WTI crude futures began on March 30, 1983. Standardized quality, quantity and delivery location enabled oil-price risk management. Cushing, Oklahoma, linked the contract to a physical hub of pipelines, storage and refining logistics.
WTI is a light, low-sulfur crude benchmark, not an average of every oil grade. Dated futures also reflect delivery-month supply and storage conditions. This chart's WTI perpetual is neither a physical Cushing delivery contract nor a particular monthly future.
References: CME: first trade dates · CME: WTI's 40-year story
Comparing charts on this board
Compare oil with copper and natural gas to separate broad activity from oil-specific supply developments. Joint oil-copper strength and isolated oil shocks suggest different news to investigate.
US ten-year yields and the S&P 500 add inflation and equity context. Pair direction with the news: demand-led oil gains and supply-disruption gains can provoke different stock responses.
Related charts: Copper · Nat Gas Perp · US 10Y Yield · S&P 500
Official references: EIA: oil-price drivers