West Texas Intermediate Oil Price in Gold

The West Texas Intermediate Price in Troy Ounces of Gold function returns the value of a barrel of West Texas Intermediate oil in gold

The Math / Science

West Texas Intermediate (WTI) is a benchmark in oil pricing.  The markets fluctuate, the dollars per barrel are captured here hourly.  In a similar vein, the value of gold fluctuates.  This function captures both and gives the up to date equivalent value of WTI in US dollars ($) and troy ounces of gold.  

`BTCB = "USD"/"bbl WTI" * "Gold"/"USD" = ($71.81)/"1 Barrel WTI" * ("1.0 troy ounce Gold")/($3134.2)`

where:

• BTCB = Bitcoins per barrel of West Texas Intermediate Oil

Gold Spot Price:$3134.2

Oil Value in Dollars, Gold and Bitcoin:

• West Texas Intermediate Dollars per Barrel: $71.81/bbl
• West Texas Intermediate Price per Barrel in Gold: 0.023 OZT
• West Texas Intermediate Price per Barrel in Bitcoin: ₿ 0.00082833
• Brent Crude Oil Dollars per Barrel: $75.02/bbl
• Brent Crude Oil per Barrel in Gold: 0.024 OZT
• Brent Crude Oil per Barrel in Bitcoin: ₿ 0.00086536