A significant price differential between two major forms of this stuff has been attributed to a bottleneck in Cushing, Oklahoma; those two benchmarks are the "Brent" and "West Texas Intermediate" variants.
One grade for this stuff common in the East is called Fateh. API gravity and pour point are factors in determining its value. A significant price differential between two major forms of this stuff has been attributed to a bottleneck in Cushing, Oklahoma; those two benchmarks are the "Brent" and "West Texas Intermediate" variants. The Bosporus, Malacca, and Hormuz Straits are major chokepoints for the transfer of this commodity and nearly 45% of the production of it occurs in OPEC countries. For 10 points, identify this commodity which is traded on the New York Mercantile Exchange in units of barrels.
One grade for this stuff common in the East is called Fateh.
crude oil [accept oil; accept petroleum]