WTI crude oil also has a lower level of other impurities, as a result of which it is easier to refine. Moreover, it is easier to transport than heavy sour oil, which has a high wax content, high density and high viscosity. Due to its scarce availability, the demand for WTI crude oil is always likely to remain high. All these factors make WTI crude oil the world's most liquid oil commodity in an electronic marketplace.
Trading WTI Oil Futures Tips
Demand Side: Weekly US Oil Inventory Data released each Wednesday is widely watched as a measure of US Demand. USA is the largest consumer of Oil.
Supply Side: OPEC meetings can result in changes to group member production Quotas.
Weather: Hurricanes can disable offshore drilling rigs which in turn affects supply. Hurricane season in the US begins on June 1st and ends November 30th.
Read more about oil trading.