K-Dog
What is the difference between the Brent and NYMEX crude oil prices? I mean technically not the numbers.
Miss_lolly
- K-Dog wrote:
What is the difference between the Brent and NYMEX crude oil prices? I mean technically not the numbers.
are u expecting an exam??
:shock:
DPS
what is that?????
RobbyG
- K-Dog wrote:
What is the difference between the Brent and NYMEX crude oil prices? I mean technically not the numbers.
Brent oil comes from the Nordsea. WTI stands for West Texas Intermediate.
NYMEX (New York Mercantile Exchange) is the trade platform where oil (Brent and WTI) are being traded per 1000 barrels.
Hope this helps your understanding.
edit: In addition to that. The technical differences are the refinement necessary to obtain quality standard fuels.
So lets say WTI, is a light sweet crude as is Brent.
Brent is considered a little more sweet crude, so less 'difficult' (better: costly) to refine to the common standard fuel you put in your car or truck.
The price difference depends on supply and demand factors. Brent has passed its peak field production levels, but probably WTI also. Its getting scarser. The price for a barrel WTI or Brent is merely based on international demand at this moment, which is low.