Civil Services Prep

Prelims 2020 · Economy · Question 83

The term 'West Texas Intermediate', sometimes found in news, refers to a grade of

  1. Crude oil
  2. Bullion
  3. Rare earth elements
  4. Uranium

Answer

Crude oil

  • (a) Crude oil — West Texas Intermediate (WTI) is a benchmark grade of crude oil, widely used in global oil pricing. Correct.
  • (b) Bullion — Bullion refers to gold or silver in bulk/bar form, not WTI. Incorrect.
  • (c) Rare earth elements — These are a group of strategic minerals; WTI has no relation to them. Incorrect.
  • (d) Uranium — Uranium is a radioactive mineral used as nuclear fuel; WTI is not a uranium grade. Incorrect.
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