two types of crude oil ||
Автор: The Untold Bharat
Загружено: 2023-10-29
Просмотров: 663
Crude oil can be broadly classified into two main types: sweet crude oil and sour crude oil. The classification is based on the sulfur content present in the oil. Sweet crude oil contains a low sulfur content, making it less sour-smelling, while sour crude oil has a higher sulfur content, which gives it a distinct sour odor. The sulfur content in sweet crude oil is generally less than 0.5%, while sour crude oil can have sulfur content higher than 2%. The presence of sulfur affects the oil refining process and the quality of the derived products.
Brent Crude and West Texas Intermediate (WTI) are two major benchmarks for pricing crude oil.
Brent Crude is extracted from the North Sea and is used as a major trading classification, serving as a major benchmark price for purchases worldwide. It is typically refined in Northwest Europe and is ideal for production of gasoline and middle distillates.
West Texas Intermediate (WTI), on the other hand, is sourced primarily from the United States, primarily from Texas, Louisiana, and North Dakota. It is a slightly lighter and sweeter crude oil compared to Brent. WTI is the underlying commodity of the New York Mercantile Exchange's oil futures contracts.
Both benchmarks are essential indicators in the global oil market, and their prices are closely watched by traders, investors, and policymakers to assess trends and make decisions related to energy markets.
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