What is the difference between Brent Crude, West Texas Intermediate, and other types of oil?
Crude oils are classified as either Light or Heavy depending on their API gravity, as well as either Sweet or Sour, depending on their sulphur content. Brent Crude is a “light, sweet” blend, gathered from several oil fields in the North Sea. It is typically priced higher than the OPEC composite price. West Texas Intermediate (WTI) is a “lighter, sweeter” blend and is typically priced higher that Brent Crude.
