West Texas Intermediate (WTI)
West Texas Intermediate, the US benchmark crude oil, is a light, sweet crude oil with an API gravity of approximately 40 and a sulfur content of approximately 0.3%. The spot price of West Texas Intermediate is reported at Cushing, Oklahoma.
Brent Blend
Brent Blend is a light, sweet North Sea crude with an API gravity of approximately 38 and a sulfur content of approximately 0.4%. Most Brent Blend is refined in Northwestern Europe, but significant volumes are also shipped to the US and Mediterranean countries.
Brent Blend is used for pricing around two-thirds of the crude traded internationally. Rolling price assessments are based on physical Brent-Forties-Oseberg crude oil cargoes loading not less than 10 days ahead and loaded free on board at the named port of shipment (Brent Dated).
Other Pages
Part 1..
Introduction to fossil fuels
Part 2..
Oil and Gas exploration
Part 3..
Oil & Gas extraction
Part 4..
Transport & Storage of Crude Oil & Natural Gas
Part 5..
Petroleum Refining Processes
Part 6..
Facts from the Oil Industry
Part 7..
Current Crude Oil prices
Part 8..
Proved Global Oil Reserves
Part 9..
Proved Natural Gas Reserves
Part 10..
The End of the Oil Age?