Differences between WTI crude and Brent crude:
1.They come from different places
WTI crude oil is produced in West Texas, USA;Brent crude oil is produced in the Brent area of the North Sea in the North Atlantic.
2.Different trading places
WTI crude is traded on the New York Mercantile Exchange;Brent crude is traded on the London Commodity Futures Market.
3.The subject matter is different
WTI crude is mainly light crude from the Middle East;Brent consists of four types of light, sweet crude produced from North Sea fields: Brent, Forties, Ekofisk and Oseberg.
4.Different pricing methods
WTI is a futures pricing benchmark based on the U.S. market, and the price of WTI is mainly determined by Cushing inventories: when stocks are high, WTI prices fall, when stocks are low, WTI prices rise, while Brent is a spot market benchmark based on the European market.The impact of Brent, which varies widely from WTI by about 5, depends on changes in Opec production and demand from Europe and Asia