WTI, whose full name is West Texas Intermediate, is an oil trading standard determined by American national oil company (Nymex). It is based on the light sweet crude oil in Cushing Oilfield in the middle of Permian Basin, Texas, USA, and its physical and chemical properties are taken as the standard. WTI is generally regarded as the most representative crude oil traded, and its price is often used as a reference for global oil prices. Because WTI is of high quality and easy to refine, its price is relatively high. Its price fluctuation is of great significance to investors and the market.

The fluctuation of WTI crude oil price will affect the operation of many fields. For example, the stock of an energy company can be affected by the fluctuation of WTI price, because the energy company is either affected by the increase of WTI price (that is, the increase of profit) or the decrease of WTI price (that is, the decrease of profit). In addition, the crude oil price of WTI will also affect the fuel price. Even though the oil price of all countries and regions is not directly linked to WTI, the fluctuation of WTI price has a certain impact on the fuel price because WTI dominates the global oil price system.

The fluctuation of WTI crude oil price is influenced by many factors, the most important of which is the structure of supply and demand, that is, the global crude oil output and the demand change of global economic activities. In addition, political factors, weather and natural disasters, geopolitical issues will have different degrees of impact on WTI crude oil prices. Due to the uncertainty and complexity of these factors, the market often has certain risks and uncertainties in forecasting WTI crude oil prices.