Brent vs WTI - the two oil prices in the ticker
Two crude-oil prices run in the ticker above: Brent and WTI. They move together most of the time, but they are not the same barrel.
What each one is
- Brent is the international benchmark. It is priced from crude produced in the North Sea, and a large share of the world's oil is priced off it.
- WTI (West Texas Intermediate) is the main US benchmark. It is delivered at Cushing, Oklahoma, inland, in the United States.
Both are quoted in US dollars per barrel, and a barrel is 42 US gallons (about 159 litres).
Why prices differ
The gap, called the spread, reflects differences in quality, location and transport. WTI is landlocked and so depends on pipelines and export capacity, while Brent is waterborne. The spread changes over time and can narrow or widen quickly.
What the ticker actually shows
The numbers are futures prices for the nearest delivery month. When that contract expires, the quote switches to the next one, which can cause a visible jump that is not a real market move.
Why it matters offshore
Offshore projects take years to plan and cost billions, so companies decide on long-term price expectations rather than today's price. Even so, sustained changes in the oil price tend to shift exploration and development budgets, and that in turn shapes demand for survey vessels, rigs and subsea services. For people working in the industry, the price is context for the job market, not a forecast of it.
Prices on this site are delayed and for information only; this is not investment advice.