The term ‘West Texas Intermediate’, sometimes found in news, refers to a grade of
Answer & explanation
Answer: (a) Crude oil
West Texas Intermediate (WTI) is a grade of crude oil produced in Texas and southern Oklahoma. It is a reference ("marker") crude whose price is used to price many other crude streams, which is why it appears so often in oil-price news.
- ✓ (a) WTI is a crude stream from Texas and southern Oklahoma, traded in the US spot market at Cushing, Oklahoma, and used as a pricing benchmark for other crude oils.
- ✗ (b) Bullion means precious metal, mainly gold or silver, held in bulk; WTI is a grade of oil, not a metal.
- ✗ (d) Uranium is a nuclear fuel mineral; WTI has nothing to do with it.
Remember · WTI is a US crude oil benchmark, traded in the spot market at Cushing, Oklahoma.
Sources
- U.S. Energy Information Administration, Petroleum & Other Liquids: definitions of spot price terms ↗ “A crude stream produced in Texas and southern Oklahoma which serves as a reference or "marker" for pricing a number of other crude streams and which is traded in the domestic spot market at Cushing, Oklahoma.”
Question and answer: UPSC's official GS Paper I (2020, Series A) — paper ↗ · answer key ↗. Explanation: Minimalist IAS, checked 30 Sept 2026 (how we verify). ·