The two major crude oil benchmarks are WTI and Brent. WTI stands for West Texas Intermediate used for US oil and Brent is the global benchmark and denotes the oil extracted from North Sea.
The WTI closed at $66.94 today on the NYMEX for July 2018 delivery and Brent ended at $75.81 on the ICE for Aug 2018 delivery.
The graphic below shows some of the basic differences between WTI and Brent crude oil:
Click to enlarge
Below is a short video explaining the differences:
Source: What is the Difference between WTI and Brent Crude Oil?,
Focus Economics
