WTI vs Brent Crude Oil Price Comparison
Real-time comparison of the world's two most important oil benchmarks. Track the Brent-WTI spread and understand what drives the price differential.
Key Differences: WTI vs Brent
WTI (West Texas Intermediate)
- Origin: United States oil fields (Texas, Louisiana, North Dakota)
- Delivery Point: Cushing, Oklahoma (landlocked)
- Market: North American oil pricing benchmark
- Trading: NYMEX futures contracts
- Quality: Light, sweet crude (0.24% sulfur)
Brent Crude Oil
- Origin: North Sea (UK, Norway) oil fields
- Delivery: Waterborne (easy global shipping)
- Market: Global oil pricing benchmark (~60% of traded oil)
- Trading: ICE futures contracts
- Quality: Light, sweet crude (0.37% sulfur)
Why Does the Brent-WTI Spread Exist?
Transportation & Logistics
Brent crude is waterborne and easier to transport globally via oil tankers. WTI is landlocked at Cushing, Oklahoma, making international export more expensive. This gives Brent a natural logistics advantage in global markets.
U.S. Shale Production
Increased U.S. shale oil production has created supply surpluses at Cushing, sometimes pushing WTI prices down relative to Brent. Pipeline capacity constraints can also limit WTI's ability to reach export markets.
Global Market Access
Brent is the pricing benchmark for approximately 60% of internationally traded crude oil. Its global reach and status as the reference price for Atlantic Basin crude oils typically commands a premium over regionally-focused WTI.
Quality Differences
While both are light, sweet crude oils ideal for gasoline refining, WTI has slightly lower sulfur content (0.24% vs 0.37%). However, this quality advantage is typically outweighed by Brent's superior logistics and market access.
Frequently Asked Questions
What is the current WTI vs Brent price difference?
The current price spread between Brent and WTI crude oil is $4.69 per barrel (7.86%). WTI is trading at $59.65/barrel while Brent is at $64.34/barrel. This spread is updated every 5 minutes based on live futures market data.
Why is Brent crude more expensive than WTI?
Brent typically trades at a premium to WTI because it's waterborne and easier to transport globally, has direct access to international markets via oil tankers, and represents a broader basket of North Sea oils. The Brent-WTI spread varies based on U.S. production levels, pipeline constraints at Cushing, and global supply-demand dynamics.
What is the difference between WTI and Brent crude oil?
WTI (West Texas Intermediate) is a light, sweet crude oil produced in the United States and delivered at Cushing, Oklahoma. Brent is a blend of oils from North Sea fields. Both are light, sweet crude oils, but Brent serves as the global oil pricing benchmark while WTI is the North American benchmark. They differ in origin, delivery location, and market accessibility.
How is the Brent-WTI spread calculated?
The Brent-WTI spread is calculated by subtracting the WTI crude oil price from the Brent crude oil price: Spread = Brent Price - WTI Price. A positive spread means Brent is trading at a premium to WTI, which is the typical historical relationship. The current spread is $4.69/barrel.
Track the Brent-WTI Spread via API
Get real-time WTI and Brent crude oil prices through our API. Calculate the spread programmatically for trading algorithms, financial analysis, and market monitoring.