Oil, which is one of the most valuable products on the market today, it is simply product which they have a variety of contracts and diverse world of vehicles with different price levels. The operators often find it confusing and difficult to find suitable reference to their way of trade. In this context, we will focus our discussions with Brent and West Texas Intermediate oil. These two types of crude oil are used as benchmarks in many western oil dealer.

Prices for crude oil
The sulphur content and the viscosity of the oil, which are classified. In relation to the viscosity, the classification will be heavy and light; difficult for most viscosity of crude oil and light crude oil less viscous. For sulphur crude oil with a sulphur content above, classified and sour cream oil with a low sulphur content, it is considered mild. Normally, it is clear that oil is difficult, it is also sour and when there is light, but also soft. For example, crude oil into two categories, the acidity of heavy oil and light sweet crude oil. With regard to pricing, light sweet crude oil higher price, because it would be much easier and cheaper to refine than heavy sour crude oil.

Or WTI West Texas Intermediate crude
NYMEX or New York Mercantile Exchange uses the West Texas Intermediate crude, or WTI benchmark for the trading of oil futures contracts. WTI is a light crude, is better than Brent. It is also much sweeter than Brent, because it contains only a minimum sulphur content of 0.25%. Given the very low viscosity and sulfur minimum, this is high quality and excellent quality oil is good for improvements than gasoline. It was noted that WTI production has been steadily declining. Despite this, nor WTI as a reference in America and cited 5 to 6 U.S. dollars above the OPEC basket price.


Brent North Sea oil
In the North Sea, we Brent oil. Brent is used as a benchmark for other types of crude oil in Europe and Africa. It is sold at $ 4 per barrel against the OPEC basket price, and, of course, off 1 to $ 2 lower than WTI. Brent fact, comes from Brent and Ninian oil fields in the North Sea. Although this is a little heavier and less sweet than WTI, it is always ideal for cleaning than gasoline. Brent is processed in the refinery is located in North Western Europe, where most of it is consumed. And just as WTI, Brent production is also declining.

New York Mercantile Exchange or NYMEX
One of the good things for you if you trade futures contract on crude oil on the market as the NYMEX is that you could lose money or negotiation of several hundreds or even thousands of barrels of oil, without physically see only one of the barrels It deals. NYMEX is seen as key in the negotiations concrete, when it comes to futures contracts for oil that many buyers and sellers of crude oil in the U.S. and throughout the world based on the NYMEX for information. And as guidelines NYMEX WTI, many other types of WTI crude oil than their targets.

Price for OPEC basket
In their efforts to more complete, correct and update information on the oil prices for oil, the Organization of Petroleum Exporting Countries or OPEC regular collection of data on the prices of seven types of crude oil Istmus, including Mexico, Venezuela Tia Juana Light , Dubai Fateh Saudi Arabia Arab Light, Nigeria, Bonny Light, Indonesia and Algeria Minas de blend Sahara. The goal of this company OPEC will have a deep understanding of market prices for oil, existing at any given time. This information in oil prices, because it is known basket price of OPEC.