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  2. Jun 7, 2024 · An estimated 80% of all crude contracts around the world reference Brent crude, making it the most widely used marker of all. These days, “Brent” actually refers to oil from five different ...

  3. May 4, 2024 · WTI is the main oil benchmark for North America, as it is sourced from the United States. It originates mainly in the Permian Basin, the site of the nation's highest-producing oil field. The oil...

  4. Aug 30, 2021 · Brent Crude originates from oil fields in the North Sea, while West Texas Intermediate is sourced from U.S. oil fields. Both are considered oil benchmarks for use and trade.

  5. A benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West Texas Intermediate (WTI), Brent Blend, and Dubai Crude. Other well-known blends include the OPEC Reference Basket used by OPEC, Tapis Crude which is traded in Singapore, Western Canadian ...

  6. May 16, 2018 · The main comparative light crude oil benchmark in North America is a light crude oil product at Cushing, Oklahoma, known as West Texas Intermediate (WTI). When comparing the two benchmarks, the combination of higher quality, and closer/better market access results in WTI having a higher price than WCS.

  7. Jun 2, 2023 · U.S. Crude Joins Biggest Oil Benchmark. Starting today, WTI Midland will be added to the Brent basket of crude grades. Brent used to be made up of five oil grades, produced at five North Sea...

  8. The Brent benchmark is used to price over three-quarters of the world's traded oil, as one of the most liquid crude grades. The waterborne crude oil on which ICE’s Brent benchmark is based has access to global shipping, port and storage capacity. It is processed by refiners around the world.

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