WTI is described as light due to its relatively low density and sweet due to its low sulfur content (source cited). WTI is the underlying commodity of the New York Mercantile Exchange (NYMEX) oil futures contracts. If we calculated using the current purchasing power of the US dollar, i.e. eliminating the effects of inflation over the last 45 years, from 1970 to 2015, according to NYMEX, the price of WTI crude oil would have gone from $15 to $120 per barrel ( Cite the source). When remembering oil prices in the past to predict the future, we have seen many phrases of vicissitudes. From 1974 to 1985 the price of oil fluctuated between 50 and 120 dollars a barrel. From 1986 to 2004, for almost 20 years, oil prices fluctuated between 20 and 50 dollars a barrel. However, there are two exceptions in this time frame: when the price of crude oil rises above the ceiling of 50 dollars or falls below the ceiling of 20 dollars, this is when Iraq attacked Kuwait in 1990 and when the Russian Federation devalued the its currency in 1998 due to the effect of the East Asian economic crisis in 1997. Subsequently, from 2005 to June 2015, oil prices returned to the range of 1974-1985, which is between 50 and 120 dollars