West Texas Intermediate is a primary benchmark grade of crude oil used as a key reference point in oil markets. Its price has demonstrated significant volatility, fluctuating between levels below $70 and peaks exceeding $100 per barrel.
“we've seen an enormous move up in especially the price of West Texas Intermediate. It's like crude oil that's got a premium on the market. And it's very odd to have this happen, by the way. But it went up to $111.”
“West Texas Intermediate 9750, just under 100.”