There’s a new kind of oil coming out of West Texas. Oil producers in the Permian Basin have started selling a new stream of light crude, said people familiar with the matter, securing a market for the increasingly less dense oil being pumped from the largest U.S. shale play. Sales of West Texas Intermediate Light, or WTI Light, started in September with deliveries into Midland, Texas, the people said. Most of the supply for WTI Light would likely be coming from more recently drilled parts of the region, such as Loving and Culberson counties, with initial volumes estimated at around 100,000 barrels a day, they said. ... (full story)