KUALA LUMPUR: The worst may not be over for the oil market as West Texas Intermediate (WTI) ended its May contract trading about US$30 below zero on Tuesday (April 21), the first time oil prices have ever turned negative.
WTI crude is a specific grade of crude oil and one of the three main benchmarks in oil pricing, along with Brent and Dubai crude. WTI is known as a light sweet oil as it contains 0.24 per cent sulphur, making it 'sweet' and has a low density, making it 'light'.
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