What is the API of Brent crude?
Brent Crude has a density of approximately 835 kg/m3, being equivalent to a specific gravity of 0.835 or an API gravity of 38.06.
What is the API gravity of WTI?
West Texas Intermediate, the US benchmark crude oil, is a light, sweet crude oil with an API gravity of approximately 40 and a sulfur content of approximately 0.3%.
What is API in oils?
The American Petroleum Institute, API, is a U.S.A trade association for the oil and natural gas industry.
What is the difference between WTI oil and Brent?
Brent is oil that is drilled out of the North Sea adjoining the UK and Norway while WTI Crude is extracted in the US. Predominantly, US oil is concentrated in Texas, North Dakota and New Mexico. The US uses West Texas Intermediate (WTI) as the benchmark.
Why is WTI cheaper than Brent oil?
Because of growth in U.S. oil production, there’s a glut of oil supply in the U.S. midwest. So WTI now trades at a price “discount” to Brent oil. Brent and WTI set the stage for prices that Alberta producers receive for their oil products. An important benchmark price in Canada is known as Western Canada Select (WCS).
Which is sweeter Brent or WTI?
Brent Crude is sour and heavier while WTI crude is sweeter and lighter.
What is the difference between Brent and WTI oil prices?
As mentioned earlier in the article, Brent crude is the benchmark used for the wider light oil market – ie Europe, Africa and the Middle East, while WTI is the benchmark for the US light oil market. Other countries often use both Brent and WTI as benchmarks to value their crude oil.
What is the WTI/Brent spread and why does it matter?
The single most widely traded spread in the global oil complex is the WTI/Brent spread and the change in the relationships between these two global marker crude oils has implications to both crude oil and refined products on a global basis.
What is the difference between Brent crude oil spot price and WPI?
Brent WPI Spread is the difference in Brent Crude OIl Spot Price and WTI Crude Oil Spot Price. Brent Oil comes from the North Sea and is the major pricing benchmark for Atlantic basin oil.
What is the difference between WTI and Brent Oil?
Brent Oil comes from the North Sea and is the major pricing benchmark for Atlantic basin oil. WTI comes from Texas and is the major pricing benchmark for oil from the Americas. While Brent and WTI price generally track one another, divergences often reflect technical, supply/demand or geopolitical issues.
Is WTI the most expensive oil in the world?
According to ICE Futures, ~60% of the world’s traded oil is priced off of Brent. But the crude hierarchy was upset for a brief moment a few days ago after WTI stole Brent’s crown as the more expensive oil.