Brent crude oil and WTI crude oil are very close in quality and price. Statistics of crude oil prices in the past 10 years show that the two are rising and falling synchronously, and the former is usually about 5% lower than the latter. For example, the Brent crude oil price of 1998 is $65,438 +03.43, and the WTI of new york is $65,438+04.53; In 2004, they rose to $38.29 and $465,438+$0.60 respectively.
WTI crude oil is American crude oil, which is traded on the New York Mercantile Exchange, namely NYMEXWTI. Although it is also an important part of the world crude oil pricing system, it has gradually withdrawn from the historical stage because it only prices American crude oil. Of course, the above pricing part refers to spot trading. In futures trading, NYMEXWTI is still the largest variety of crude oil futures trading, which has a great guiding role and influence on other crude oil futures prices.
All crude oil produced or sold in the United States is priced based on WTI with light weight and low sulfur. As a major consumer of crude oil in the United States and the global influence of the New York Futures Exchange, crude oil futures trading based on WTI has become the world's leading commodity futures. The crude oil traded by easy-forex is wti crude oil/USD. Generally speaking, crude oil futures contracts have good liquidity and high price transparency, and are one of the three benchmark prices in the world crude oil market. When the public and the media usually talk about how many dollars the oil price has exceeded, it mainly refers to this price.
Generally speaking, it is:
WTI crude oil, American market, futures pricing benchmark oil.
Brent crude oil, European market, spot market benchmark oil