West Texas Intermediate West Texas Intermediate West Texas Intermediate (WTI), also known as Texas light sweet, is a grade of crude oil used as a benchmark in oil pricing. This grade is described as Medium crude oil because of its relatively low density, and sweet because of its low sulfur content. It is the underlying commodity of New York Mercantile Exchange's oil futures contracts. The price of WTI is often referenced in news reports on oil prices, alongside the price of Brent crude from the North Sea. Other important oil markers include the Dubai Crude, Oman Crude, Urals oil and the OPEC Reference
Commodity pathway diversion as a rejection of art and a questioning of value (1968). By diverting a urinal from its commodity pathway and exhibiting it as art in a museum, Duchamp created an enclaved item out of a commodity, thus increasing its social value, and commoditized mundane items by affecting artistic tastes. Artist William Morris argued that "under industrial capitalism artificial needs and superficial ideas about luxury are imposed on the consumer from without and …as a result, art becomes a commodity" (1985:8-9). Bauhaus artists like Morris and Walter Gropius understood commodities in purely Marxian terms as things which are immediately produced, having