In terms of crude oil, we can find that there are actually two kinds of crude oil at the international level, namely North American crude oil and international crude oil. So what's the difference between the two? What do you think? Please look down.

What's the difference between North American crude oil and international crude oil?

The difference between North American crude oil and international crude oil lies in the different products traded. North American crude oil is WTI crude oil, and the traded variety is mainly Middle East light crude oil, which is difficult to exploit, low in cost and good in quality. The international crude oil variety is Brent crude oil, that is, its products are all mined at sea, so its production is difficult and costly. It should also be noted that North American crude oil is mainly traded on the London Commodity Futures Market, while international crude oil is traded on the New York Commodity Futures Exchange.

Although both crude oils are crude oils, their operations and related transactions are also different due to their inherent differences. Generally speaking, the impact of North American crude oil prices mainly depends on the changes in the output of the Organization of Petroleum Exporting Countries and the changes in demand in Europe and Asia. International crude oil depends on inventory, that is, storage in relevant places. Of course, North American crude oil is because of the Middle East, so its rise and fall is related to the situation in the Middle East, while the change of international crude oil is mainly due to demand.

To sum up, this is the main difference between them.