Brent and West Texas Intermediate are distinct crude-oil benchmarks. They represent different physical markets and trading arrangements. A headline that simply says “oil” can hide an important distinction.
Compare the same kind of observation
A specific month's futures contract, a spot assessment and a monthly average are different series. price-chart.com keeps the daily EIA spot histories for Brent and WTI separate from their World Bank monthly averages. We do not splice an expiring futures contract into a spot history or present a futures settlement as a pump price.
Why a spread exists
Crude quality, geography, pipeline and shipping access, refinery demand and available supply influence pricing. The difference between Brent and WTI is often described as a spread. Calculate it by subtracting the WTI reference from the Brent reference for the same date and unit. A positive number means Brent was higher on that basis.
A barrel is a volume unit
Oil prices here are per barrel. A petroleum barrel is 42 US gallons. Converting a barrel into kilograms requires the density of the specific crude at a defined temperature, so the precious-metal weight selector does not apply to oil. The oil barrel and volume converter handles that step when you enter a density.
Crude is not petrol
Refining, blending, transport, distribution and taxes stand between crude oil and a retail fuel purchase. Retail prices may adjust on a different schedule. A crude reference should not be used as a direct forecast of tomorrow's fuel bill.
The oil comparison hub links both benchmarks and includes the aligned percentage chart and spread calculator.
Test yourself. Check what you learned with the oil benchmarks and barrels quiz: 5 quick questions, each with a short explanation.
Sources & further reading
Educational reference. How we create and review our content.
