Brent vs WTI: Price Spread & Difference
Compare Brent and WTI crude oil prices side by side. Track the live spread between the two major benchmarks and understand what drives the price difference.
Brent Crude Oil
$74.51
USD / barrel
Updated: 2026/3/24 18:13:15
WTI Crude Oil
$69.79
USD / barrel
Updated: 2026/3/24 18:13:15
Brent–WTI Spread
$4.72
Brent $74.51 − WTI $69.79
The Brent-WTI spread reflects the price premium of Brent over WTI crude oil. A moderate spread suggests normal market conditions.
Brent vs WTI: Key Differences
| Factor | Brent | WTI |
|---|---|---|
| Origin | North Sea (Europe) | Permian Basin (US) |
| Exchange | ICE (London) | NYMEX (New York) |
| Ticker | BZ=F | CL=F |
| Scope | Global benchmark (~2/3 of world) | North American benchmark |
| Delivery | Seaborne (Sullom Voe, Scotland) | Pipeline (Cushing, Oklahoma) |
| Typical Premium | Usually higher | Usually lower |
What Drives the Spread?
The Brent-WTI spread is influenced by several factors: US shale production levels, pipeline and export capacity constraints, global demand shifts, OPEC+ supply decisions, and geopolitical risks in oil-producing regions. When US production rises faster than export capacity can handle, WTI tends to fall relative to Brent.
A widening spread often signals tighter international supply or a surplus in the US market. Conversely, a narrowing spread may indicate improving US export logistics or weakening global demand relative to domestic consumption.