Brent Crude, a classification of light sweet crude oil coming from the North Sea region, is due to replace West Texas Intermediate, also known as WTI or Texas light sweet, as the standard in setting oil prices on the world market. In this video, Motley Fool energy analyst Joel South explains why this may cause American crude prices to drop overall, and which companies may stand to benefit from the new world environment of low prices due to a huge North American oil glut.
A New Benchmark in Oil Prices
By Joel South and Taylor Muckerman – Nov 26, 2012 at 4:35PM
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A new standard is emerging in how world oil prices are set, and an old one is being displaced.
About the Author
Joel is a University of Washington graduate and covers energy and materials for The Motley Fool. Be sure to follow The Motley Fool's energy and materials Twitter for all your energy and materials coverage.
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