light sweet crude magnifies its importance

Why the Disruption Has Led to a Spike in Oil Prices

By CLIFFORD KRAUSS 5:29 PM ET

Libya produces less than 2 percent of the world’s oil, but its light sweet crude magnifies its importance.

sweet crude

The name given to barrels of crude oil that meet certain content requirements, such as low levels of sulfur and hydrogen.

Investopedia Says:
Sweet crude future contracts are the most popular oil contracts traded on commodity markets. This type of oil is much easier to refine than sour crude.