What is the difference between oil and oil
As a major oil consuming countries, coupled with the impact of the New York round of the global impact of the United States to WTI as the benchmark crude oil futures trading, commodity prices in the global commodity futures became the leader. Said the international oil price is basically the United States crude oil futures, less mention of Beihai, London, Brent crude oil, in addition to if there is another oil that is singapore.
Traced to the source, WTI is the intermediate base crude oil produced in West Texas, also known as Texas light crude oil, is the benchmark crude oil futures in the United States, which is the subject matter. All of the crude oil that is produced in the United States or sold to the United States is based on light, low sulfur WTI as a benchmark.
In New York commodity futures trading market, U.S. crude oil, NYMEX WTI, as an important part of world crude oil pricing system, only for the United States because of its crude oil pricing, with local strong, has now gradually withdraw from the stage of valuation. Of course, these valuation methods are based on spot trading. However, in the futures market, NYMEX WTI is still the largest crude oil futures trading varieties, other crude oil futures prices have a strong guiding role and influence.
1 valuation methods, futures trading in commodity markets in London, Brent crude oil as a kind of Beihai crude oil, ICE Brent, in the world, except the part of the Middle East and the Far East oil accident, most areas of crude oil, such as Beihai, Africa, Latin America, Canada, and parts of the Middle East and the Far East to the valuation of European exports of crude oil when are DTD Brent valuation.
