Commodity market may include interest rates, environmental instruments, swaps, or freight contracts. Source: International Trade Centre Energy commodities include crude oil particularly West Texas Intermediate (WTI) crude oil and Brent crude oil, natural gas, heating oil, ethanol and purified terephthalic acid. Hedging is a common practice for these commodities. For many years, West Texas Intermediate (WTI) crude oil, a light, sweet crude oil, was the world’s most-traded commodity. WTI is a grade used as a benchmark in oil pricing. It is the underlying commodity of Chicago Mercantile Exchange's oil futures contracts. WTI is often referenced in news reports on oil prices, alongside
Value (ethics) condition or commodity, e.g. money, become high in supply, and vice versa when supply of money becomes low. Nevertheless, economic value may be regarded as a result of philosophical value. In the subjective theory of value, the personal philosophic value a person puts in possessing something is reflected in what economic value this person puts on it. The limit where a person considers to purchase something may be regarded as the point where the "personal philosophic value" of possessing something exceeds the personal philosophic value of what is given up in exchange for it, e.g. money. In this light, everything