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Crude Oil Distillation Curves
Types of distillation curves:
1. TBP (True Boiling Point) distillation curve.
Benchmark Oils
Benchmark oils are used as references when
pricing oils. There are approximately 161 different
benchmark oils, of which the main three West
Texas Intermediate, Brent Crude, and Dubai Crude.
Crude oil is the most actively traded commodity
and is bought and sold in contracts. A contract
trades in units of 1,000 barrels of oil and
benchmarks help to determine the price of a barrel
of oil in a contract.
West Texas Intermediate (WTI)
WTI is probably the most famous of the bench
mark oils. It is a light, sweet crude with an API
gravity of 39.6 degrees. That gives it a specific
gravity of 0.827, which means that at 60 degrees
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Fahrenheit, WTI is only 8/10 as heavy as water. It
contains 0.24% sulfur and is refined in the
Midwest. It comes from the Southwestern United
States.