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A benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West Texas Intermediate (WTI), Brent Blend , and Dubai Crude .
WTI is West Texas Intermediate oil. It describes a light oil with relatively low sulfur. While it might be produced in West Texas, the WTI designation can be designated to any crude that can meet ...
Unlike Brent Crude, WTI crude oil is not from any specific oil fields.Rather, WTI is described (for example by the Alberta Government) as "light sweet oil traded and delivered at Cushing, Oklahoma" [4] (with WTI Midland and WTI Houston crude oil defined similarly for Midland, Texas, and Houston, Texas respectively).
It contains approximately 0.37% of sulphur, classifying it as sweet crude, yet not as sweet as WTI. Brent is suitable for production of petrol and middle distillates. It is typically refined in Northwest Europe. Brent Crude has a density of approximately 835 kg/m 3, being equivalent to a specific gravity of 0.835 or an API gravity of 38.06.
When you read or listen to the news about the oil market, you meet two mysterious words: Brent and WTI (West Texas Intermediate). Maybe you already know that they are the two major oil benchmarks.
Brent futures fell 72 cents, or 1.0%, to settle at $73.19 a barrel, while U.S. West Texas Intermediate crude slipped 63 cents, or 0.9%, to settle at $70.08. In China, the world's second-biggest ...
The three most quoted oil products are North America's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price ...
The ongoing decline in the spread between Brent and WTI crude prices during 2013 slashed the margins of leading oil refineries such as Valero Energy and Marathon Petroleum . Will the premium of ...