West Texas Intermediate (WTI) is a grade of light, sweet crude oil that serves as a major benchmark for North American oil pricing. WTI prices, quoted in US dollars per barrel, are widely reported and referenced in energy markets. Canadian oil prices often relate to WTI with differentials reflecting quality differences, transportation costs, and market conditions. Western Canadian Select (WCS), the benchmark for Alberta heavy oil, typically trades at a discount to WTI. Oil price movements affect Alberta's economy significantly, influencing provincial revenues, employment, and investment. WTI prices are determined at Cushing, Oklahoma, a major pipeline and storage hub. Understanding oil benchmarks helps interpret energy market news and its implications for Canadian petroleum-producing regions and the broader economy.