WTI is a crude oil contract of new york Stock Exchange, commonly known as "American crude oil". Its delivery place is Cushing in the inland of the United States, and it is listed and traded on the new york Stock Exchange.

Brent is the crude oil contract of ICE Intercontinental Exchange, and the European crude oil futures belong to light crude oil.

Dubai crude oil refers to the quotation of Dubai crude oil trading market in the Middle East of the United Arab Emirates, which is often regarded as the price representative of Middle East crude oil.

At present, the trading volume of new york crude oil is the largest, while that of Brent crude oil is slightly smaller than that of American crude oil, so the intraday trading range of Brent crude oil is sometimes larger than that of American crude oil. Compared with Brent crude oil, it can trigger a wider trading price range with less funds than WTI crude oil, that is, the fluctuation range is usually larger than that of American crude oil.

In addition, the contract quality of Brent crude oil is better than that of American oil, so the price of Brent crude oil is usually slightly higher than that of American oil, which is the so-called "American oil premium". Therefore, a spread transaction is derived from the wide spread of Brent crude oil: American oil (spread).