1. In the London commodity futures market, Brent crude oil belongs to the North Sea crude oil, namely ICEBrent. At present, except for some oil accidents in the Middle East and the Far East, most of the world's crude oil, such as crude oil from the North Sea, Africa, Latin America, Canada and parts of the Middle East and the Far East, is priced by dtdbrent.

2. In terms of trading volume, compared with Brent crude oil in the North Sea, which is also light and low 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.

3. In a word, American crude oil (WTI crude oil) is the futures pricing benchmark oil based on the American market, while Brent crude oil is the spot market benchmark oil based on the European market. There are great differences between them, but there are also similarities.

The content of this article comes from People's Republic of China (PRC) Financial Code: Application Edition by China Law Publishing House.