Oil Price in Trinidad and Tobago — Brent & WTI Crude Today

Trinidad and Tobago is a significant oil and gas producer in the Caribbean, with exports of crude and LNG to the Americas. Its crude is priced relative to Brent and WTI benchmarks.

Classified here as a small domestic producer, Trinidad and Tobago trades against WTI, with Brent for waterborne cargoes. That is the pricing reference the sections below work from — the headline Brent number quoted at the top of this page is the global marker, not necessarily the price Trinidad and Tobago settles at.

Trinidad and Tobago produces crude, but not at a volume that influences the global balance. Domestic output softens the import bill without insulating the country from the benchmark, because unsold barrels always have an export alternative — refiners price against what the crude could fetch abroad, not what it cost to lift.

Product imports arriving from the US Gulf Coast are priced off WTI-linked refinery economics, while cargoes sourced from further afield are quoted against Brent.

Trinidad and Tobago refines for its own market. Domestic refining means crude is imported or produced and converted locally, so the local fuel price reflects crude cost plus the domestic refining margin rather than the landed cost of finished product. Refinery outages and turnaround schedules can therefore move pump prices here independently of Brent.

Crude is invoiced in US dollars worldwide. Where local prices are quoted in dollars or in a dollar-pegged currency, that removes one layer of volatility: buyers in Trinidad and Tobago face the crude move on its own, without an exchange-rate move stacked on top of it.