As an important part of the world crude oil pricing system, NYMEX WTI, the American crude oil in new york commodity futures trading market, has gradually withdrawn from the pricing stage because it only prices American crude oil and has strong locality. Of course, the above pricing methods are based on spot transactions. However, in the futures market, NYMEX WTI is still the largest variety of crude oil futures trading, which has a strong guiding role and influence on other crude oil futures prices. Brent crude oil is in the London commodity futures market. Brent crude oil is a North Sea crude oil, that is, ICE Brent. At present, except for some oil accidents in the Middle East and the Far East, most of the crude oil exported to Europe, such as the North Sea, Africa, Latin America, Canada, and some crude oils in the Middle East and the Far East, are denominated in dtd Brent.

Brent crude oil is very close to American crude oil in quality and price. Judging from the statistics of crude oil prices in recent ten years, the two are almost synchronous, and the former is generally about 5% lower than the latter. For example, 1998, Brent oil price is $65,438 +03.43, while USD crude oil price is $65,438 +04.53. In 2004, they rose to $38.29 and $465,438+$0.60 respectively. From the data point of view, the two are basically synchronized, and the price difference is also around 5%.

In terms of trading volume, compared with Brent crude oil in the North Sea, which is also light and low in sulfur, the spot trading volume of American crude oil is far less than Brent crude oil. 1988, London International Petroleum Exchange (IPE) launched Brent crude oil futures contract, which later included northwest Europe, North Sea, Mediterranean, Yemen, Africa and other countries and regions. As a standard, they began to admire the contract as a highly flexible evasion.

In a word, American crude oil (WTI crude oil) is the benchmark oil for futures pricing based on the American market, while Brent crude oil is the benchmark oil for spot market based on the European market, with a big difference of about 5%. But from the data point of view, the two are basically synchronized. The market is based on international trends, so when you choose a platform, you don't necessarily say which crude oil is better, but it's all the same.