Why is the New York Mercantile Exchange lower than the Brent crude oil futures price
Simply say:Because the oil inside the different sulfur content, sulfur content of sulfur content of crude oil or crude oil Brent, so the price is different.The two price, first, the New York Mercantile Exchange, the two is the London Brent crude oil futures prices.
From the actual supply source, the main source of crude oil in the Gulf of Mexico, North America and Latin America, more affected by U.S. commercial crude oil inventories and the political economy of the Western Hemisphere, while the European crude oil from Europe, the Middle East and africa. As a result, tensions in the Middle East have a significant impact on the future price of crude oil in Beihai, London, Brent, compared to the impact of crude oil prices on the New York market is relatively moderate.By the end of October 3, 2012, the New York Mercantile Exchange in November delivery of light crude oil futures closed at $88.14 a barrel. November delivery of Brent crude oil futures closed at $108.17 a barrel.
New York light crude oil is a kind of common North American crude oil, the sulfur content is 0.24%, mainly from the western United States and Mexico Gulf Coast refineries.Light crude oil futures contracts in terms of value and scale are the world's largest, is the world's crude oil pricing benchmark.Beihai Brent crude oil is Europe's benchmark light crude oil, slightly higher sulfur content, 0.37%, mainly from the northwest European refineries.As the United States crude oil pricing benchmark WTI crude oil sulfur content (0.24%) is much lower than the Brent crude oil (0.37%), the equipment and process requirements are relatively high, and therefore more welcome by oil refining enterprises.
