American crude oil refers to crude oil futures listed in the New York Mercantile Exchange. It is the continuous contract name of American crude oil futures and the New York Mercantile Exchange light crude oil futures contracts. WTI futures contract is one of the largest crude oil market futures contracts in the world.
Brent crude oil and American crude oil are both important products of commodity futures, but they are also very different. Details are as follows:
1. Different trading places
Trading Brent crude oil in London commodity futures market;
American crude oil is traded in the New York Mercantile Exchange.
2. The theme is different
Brent crude oil includes four kinds of light and low sulfur crude oils produced in Beihai Oilfield: Brent, Fotis, Ekofisk and Osberg; ;
American crude oil is mainly Middle East light crude oil.
3. Different pricing methods
Brent crude oil is the spot market benchmark oil based on the European market. The influence of Brent crude oil price mainly depends on the changes of output and demand in Europe and Asia of the Organization of Petroleum Exporting Countries.
American crude oil is the benchmark oil for futures pricing based on the American market, and its price mainly depends on Cushing crude oil inventory: when the inventory is high, the price of American crude oil drops, and when the inventory is low, the price of American crude oil rises.
The price difference between Brent crude oil and American crude oil is around 5%.