West Texas Intermediate, also abbreviated as Yen, is a light oil used as a benchmark or indicator for oil pricing in global markets. The main reason for this nomenclature is that this light oil is mined in West Texas.< < >the price per barrel of oil for delivery in May 2020 in trading on global markets experienced its biggest daily fall, falling 316 percent to minus 39 and 55 cents, an unprecedented figure in history.the price of West Texas Intermediate oil is often included in reports on oil prices alongside the price of Brent crude from the North Sea. Other important oil markers include Dubai crude oil، Oman crude Ural oil and OPEC Reference Basket. West Texas Intermediate is lighter and sweeter, with less sulfur than Brent, and much lighter and sweeter than Dubai or Oman Oil. Brent crude oil and West Texas Intermediate (WTI) are the two most commonly used crude oil types and are used as a measure to determine oil prices. The main differences between these two types of crude oil are the location of extraction and composition