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Grades of Oil

[fightiam]

This is a very solid play. I think that I promised to post about the grades of oil. Here it is:

WTI Crude

West Texas Intermediate (WTI) crude oil is of very high quality. It has API gravity of 39.6 and sulphur content of 0.24% only. Its low density and low sulphur content gave it the name 'light, sweet crude' and enabled refiners to produce high yield of gasoline. Most WTI crude oil gets refined in the Midwest region of the country, with some more refined within the Gulf Coast region.

This type of crude oil is used as a benchmark in oil pricing and the underlying commodity of NYMEX's oil futures contracts. Due to its 'lightness' and 'sweetness', WTI crude is normally selling at about $1-$2/ barrel premium to Brent.

Brent

Brent is actually a blend of crude oil from 15 different oil fields the North Sea. It has API gravity of 38.3 degrees and sulphur content of around 0.37%. From these 2 parameters, we can see that Brent crude oil is heavier and less sweet than WTI crude. Therefore, its price is generally lower. Brent is suitable for refinery of gasoline and middle distillates. But that has changed over time and it trades at a $20 premium to WTI at today's prices

See chart for reference

https://www.oilngold.com/tutorials/articles/oil-basis-grades-oo-crude-oil-200809302184/

[fightiam]

This board is very quiet and it may be for a very good reason.  I am closing my comments and may join the yahoo board instead.  Anyway I bid farewell and good luck to all