Because the sulfur content in oil is different, Brent crude oil contains more sulfur than American crude oil, so the price is different.

Two prices, one is the New York Mercantile Exchange and the other is Brent crude oil futures price in London, England.

New york light crude oil is a common crude oil in North America, with a sulfur content of 0.24%, which mainly comes from refineries in the western United States and the Gulf Coast.

Light crude oil futures contract is the largest in value and scale in the world, and it is the pricing benchmark of global crude oil.

Brent crude oil in the North Sea is the benchmark light crude oil in Europe, with a slightly higher sulfur content of 0.37%, mainly from refineries in northwest Europe.

As the pricing benchmark of American crude oil, WTI crude oil's sulfur content (0.24%) is much lower than Brent crude oil's (0.37%), and its requirements for equipment and technology are relatively low, so it is more welcomed by refining enterprises.

From the actual supply sources, American crude oil mainly comes from North America, the Gulf of Mexico and Latin America, which is more influenced by domestic commercial crude oil stocks and the political economy in the Western Hemisphere, while European crude oil comes from Europe, the Middle East and Africa. Therefore, the tension in the Middle East has a significant impact on the Brent crude oil futures price in London North Sea, while it has a relatively mild impact on the crude oil futures price in new york market.

By the close of 20 12 and 10 on June 3rd, the futures price of light crude oil for June delivery in the New York Mercantile Exchange was 1 14 USD per barrel. /kloc-Brent crude oil futures for delivery in October/October 165438 closed at 108.6438+07 USD per barrel.