Online Commodity Trading

Online Commodity Trading

Crude Oil Guide: Brent Vs. WTI, What’s The Difference?

October 1st, 2013 Filed under Commodity Trading, Futures Trading | Comments Off on Crude Oil Guide: Brent Vs. WTI, What’s The Difference?

“U.S.-produced oil is a substitute, in terms of volume, to non-U.S. sources, and it’s geographically safe and secure, sending a hedge into the WTI price, not into Brent,” said Richard Hastings, a macro strategist at Global Hunter Securities.

Hastings made the comments when the price spread between the crudes traded at less than $1 back in July “Brent, in turn, reflects macroeconomic weakness from around the world, something which is less meaningful to WTI pricing,” he explained. 1

WTI (West Texas Intermediate), North Sea Brent and the OPEC (Organization of Petroleum Exporting Countries) Benchmark.

What Are the Major differences between these crude oil futures contracts?:

Sulfur Content: Some Crude oils are easier, less costly to refine into gasoline than others. Low sulfur crude is also known as Sweet crude. The commonly used measure of sulfur content is API gravity, is a measure of how heavy or light a petroleum liquid is compared to water. If its API gravity is greater than 10, it is lighter and floats on water; if less than 10, it is heavier and sinks. API is the American Petroleum Institute.

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