What is the difference between crude oil and Brent Crude?

I watch CNBC and don't understand why there is always a huge discrepency between the two types of crude oil.

One Response to “What is the difference between crude oil and Brent Crude?”

  1. jeff410 Says:

    The price of Brent North Sea crude is a benchmark for all the types of crude in Europe and that area of the world. What you see on CNBC, LIght Sweet Crude, also called West Texas Intermediate Crude is a benchmark for the types of crude oil in North America, like Oklahoma Sweet, Oklahoma Sour, New Mexico Intermediate, Uinta Basin Blac Wax, which is produced in northeastern Utah and other types. The prices are all based on Light Sweet Crude.