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Light Sweet Crude Oil

Light Sweet Crude Oil is a benchmark crude produced in Texas (USA) which contracts are traded on the Chicago Mercantile Exchange. Historically its prices are close to those of Brent despite being of higher quality.

Oil price setting equally depends on the geopolitics, macroeconomics and supply/demand balance. Oil prices are greatly influenced by a concerted position of the Organization of Petroleum Exporting Countries (OPEC), which includes such countries as: Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador, Angola.