WTI vs. Brent Crude. Oil Density; WTI has an API gravity of 39.6°, making it very “light.” Brent has an API gravity of 38°, still light, but not as light as WTI. Sweetness. WTI has a sulfur content of 0.24%, making it very “sweet.” Brent has a sulfur content of 0.40%, which is under the 0.50% benchmark, but not as sweet as WTI. Nov 26, 2019 · Oil prices fell slightly on Tuesday afternoon after the API reported a surprise build in crude and gasoline inventories last week. WTI was trading at $58.36, while Brent was trading at $63.14. Dec 22, 2020 · API. Crude +2.70mm (-3.1mm exp) Cushing +341k; Gasoline -224k (+600k exp) Distillates +1.03mm (-1mm exp) Analysts expected a 6th straight week of gasoline builds (but did not get one), and after the week before last's huge build, crude stocks are expected to draw down (but instead crude stocks saw a build) (Click on image to enlarge) Source API call to use. http://api.eia.gov/series/?api_key= YOUR_API_KEY_HERE&series_id=STEO.BREPUUS.A. Series name. Brent crude oil spot price, Annual.
Sep 30, 2020 West Texas Intermediate (WTI) is slightly lower in price than Brent. As of November 2, 2020, WTI was trading at $38.76 per barrel, while Brent
Jan 04, 2020 · For example, WTI-Brent spread options on NYMEX experienced record trading volume from 2011 to 2013 after a glut in U.S. crude sent WTI prices in a tailspin relative to Brent. The Bottom Line Sep 30, 2020 · West Texas Intermediate (WTI) is slightly lower in price than Brent. As of November 2, 2020, WTI was trading at $38.76 per barrel, while Brent traded at $41.19. 7 The offshore oil rigs, despite Jan 02, 2020 · WTI was the first actively-traded crude contract, launched on NYMEX in 1983. It was considered the key benchmark for many years until it was displaced gradually by the Brent contract on what is now ICE. WTI fell far out of favor when the inability to get crude out of Cushing to the Gulf of Mexico became a serious problem. WTI Brent Dubai Crude API Gravity* 39.6 38.06 31 Specific Gravity* 0.827 0.835 0.871 Sulfur Content* 0.24% 0.37% 2% *API (American Petroleum Institute) gravity is a measure of how much lighter or heavier an oil or petroleum is compared to water. *Specific gravity is a ratio of the density of a substance to a certain reference substance. 2 days ago · Major oil benchmarks are West Texas Intermediate (WTI) and Brent Crude. West Texas Intermediate (WTI) Crude Oil Price Today - Barrel The price of a barrel of West Texas Intermediate (WTI) crude oil is currently $53.32. The price was last updated at January 20, 2021 at 4:48 am UTC.
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In contrast to Brent, WTI Cushing is a landlocked regional crude, which reflects market fundamentals in the midcontinent region of the US. It has storage and logistics constraints at a very specific location: Cushing, Oklahoma. There is limited pipeline capacity to get crude in and out of Cushing, and limited crude storage capacity there. WTI and Brent Crude Oil 101 Oil Export Ban. Currently, oil produced in the U.S., by law, must remain in the U.S., with few exceptions. And while the characteristics of Brent and WTI are similar in nature based on their API gravity, Brent sells at a premium to WTI for reasons that are not entirely driven by the Nov 18, 2017 · Brent is characterized by and API gravity of about 38.06 and an equivalent specific gravity of 0.835. In the past, the price of Brent crude and other benchmark crude has always been dictated by physical differences in crude oil and short-term fluctuations in supply and demand. Jan 14, 2015 · API gravity, which compares the crude’s density to water, is also an important indicator of quality. The higher the API gravity, the lighter the oil. Lighter oil is easier to process than heavier oil and consequently fetches a typically higher price on oil markets. The Two Most Widely Used Crude Pricing Benchmarks: Brent and WTI Although considered both light and sweet, Brent is slightly heavier than WTI, with an API gravity of 38.06 and a sulfur content of 0.37%. During the latter half of 2017, the price spread between Brent and WTI reached as high as $8 per barrel. API gravity of Brent = 38.06, while API gravity of WTI = 39.6 What is API Gravity? API Gravity is a commonly used index for measuring the density of a crude oil or refined products. It measures how heavy or light a petroleum liquid is as compared to water.
API Gravity Definitions: Definition of API Gravity of water provided by WikiPedia : The American Petroleum Institute gravity, or API gravity, is a measure of how heavy or light a petroleum liquid is compared to water. if its API gravity is greater than 10, it is lighter and floats on water; if less than 10, it is heavier and sinks.
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Dec 10, 2020 · The organization now sees Brent spot prices averaging $41.43 per barrel this year and $48.53 per barrel in 2021. WTI spot prices are expected to average $38.96 per barrel in 2020 and $45.78 per
WTI and Brent Crude Oil 101 Oil Export Ban. Currently, oil produced in the U.S., by law, must remain in the U.S., with few exceptions. And while the characteristics of Brent and WTI are similar in nature based on their API gravity, Brent sells at a premium to WTI for reasons that are not entirely driven by the Nov 18, 2017 · Brent is characterized by and API gravity of about 38.06 and an equivalent specific gravity of 0.835. In the past, the price of Brent crude and other benchmark crude has always been dictated by physical differences in crude oil and short-term fluctuations in supply and demand.
May 6, 2020 Brent crude and West Texas Intermediate (WTI) are two globally Having an API gravity greater than 10 makes them light and allows them to American Petroleum Institute news coverage on MarketWatch. API is the largest U.S. trade association for the oil and natural gas industry. Jan 20, 2014 WTI AND BRENT SPOT PRICES (dollars per barrel). Cushing from about $10 ( which is to be expected due to its low API gravity) to $50 per Both Brent Crude and WTI Crude oil prices tend to be highly correlated. Brent Crude Oil is sourced from the North Sea and originally came from the Brent oil field. FREIGHT RATES, VLCC NORTH SEA TO USGC VS WTI/BRENT SPREAD, $BBL . domestic crudes with 0.42% sulfur by weight or less, not less than 37° API API's Weekly Statistical Bulletin (WSB) has reported total U.S. and regional data relating to refinery operations and the production of the four ma