Texas light sweet oil, more often called West Texas Intermediate (WTI) — is a type of commodity crude oil that is produced in Texas, USA. Being light (in terms of API gravity) the WTI brand is great for making diesel fuel, gasoline and other low-sulphur fuels. These characteristics account for high demand for the WTI brand and the similar Brent oil brand. WTI has been trading on NYMEX since 1983. Brent futures contracts include a mandatory delivery rule to Coushing (Oklahoma, US), where main oil refineries and stations are located. WTI makes up only 1% from all oil extracted in the world, but export prices for 2/3rds of all oil depend on Brent and WTI prices.