The phrase "light crude" refers to a type of oil that is thin and easy to produce. It is less dense and contains fewer impurities compared to other types. Full definition
Light crude oil, which accounted for the remaining 26 percent of crude - oil exports, recorded a moderate rise of 15 percent from 2007. (forexfocus.com)
But coming back to the short term, as I explained earlier, the major problem has been created by the lack of supply of light crude. (ghanapoliticsonline.com)
The Aframax tanker Tulip, chartered by Britain's BP, has been waiting since mid-May around Curacao to discharge some 500,000 barrels of U.S. light crude for which PDVSA has not paid, according to Reuters data and a company source involved in the sale. (fortune.com)