The world crude oil trade has formed three major markets in North America, Europe and Asia, and each market has crude oil with price indicators, namely WTI crude oil, Brent crude oil in the North Sea and Dubai crude oil produced in the Middle East. Among them, the best quality is WTI crude oil futures price, which refers to West Texas light crude oil in the United States and is a common crude oil futures price in North America. Due to the global military and economic capabilities of the United States, WTI crude oil has become the benchmark for global crude oil pricing.