Multiple Choice Questions on The term lsquo West Texas Intermediate rsquo sometimes found in news refers to a grade of ........ for General Knowledge ( All Exams) Preparation

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Multiple Choice Questions

The term lsquo West Texas Intermediate rsquo sometimes found in news refers to a grade of ........

Economic and Social Issues Nature of Indian economy
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    The term ‘West Texas Intermediate’, sometimes found in news, refers to a grade of

    Crude oil

    Correct Answer

    Bullion

    Incorrect Answer

    Rare earth elements

    Incorrect Answer

    Uranium

    Incorrect Answer
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    Explanation:
    • West Texas Intermediate (WTI) can refer to a grade or a mix of crude oil, and/or the spot price, the futures price, or the assessed price for that oil; colloquially WTI usually refers to the price of the New York Mercantile Exchange (NYMEX) WTI Crude Oil futures contract or the contract itself. Hence option 1st is correct.

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