The crude oil traded in London is Brent Crude, mainly crude oil from Beihai, which is traded in the West Texas Intermediate (WTI) in the United States, mainly in the west of New York. Judging from the quality of the two, WTI less than Brent Crude sulfur content (0.24% to 0.37%), WTI than Brent Crude price should be a little higher.
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.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.
Brent crude oil, English Brent oil, produced in the North Atlantic region of Beihai, Brent. London Intercontinental Exchange and New York commodity trading all his futures trading, the market price of the benchmark
Brent crude oil is more expensive than the United States is the main reason for the cost and the United States on the price of crude oil, a common role in the policy, in addition, due to the tense situation in the Middle East, crude oil supply is tight, is also one of the reasons.
