UPSC Prelims 2020·GS1·economy·economic sectors and development

The term 'West Texas Intermediate', sometimes found in news, refers to a grade of

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Last updated 23 May 2026, 3:31 pm IST
  1. ACrude oilCorrect
  2. BBullion
  3. CRare earth elements
  4. DUranium

Explanation

The term 'West Texas Intermediate' (WTI) refers to a specific grade of crude oil. It is a benchmark crude oil, particularly for pricing in the North American market, and is known for its high quality (light and sweet). WTI crude oil is traded on the New York Mercantile Exchange (NYMEX) and its price is widely followed as a global indicator for oil prices alongside Brent crude.
economy: The term 'West Texas Intermediate', sometimes found in news, refers to a grade of

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