Whois & Analysis for oilprice.com

Brent Crude is a major trading classification of sweet light crude oil that serves as a major benchmark price for purchases of oil worldwide.

This grade is described as light because of its relatively low density, and sweet because of its low sulfur content.

Brent Crude is extracted from the North Sea and comprises Brent Blend, Forties Blend, Oseberg and Ekofisk crudes (also known as the BFOE Quotation).

The Brent Crude oil marker is also known as Brent Blend, London Brent and Brent petroleum.

Natural gas is a naturally occurring hydrocarbon gas mixture consisting primarily of methane, but commonly including varying amounts of other higher alkanes, and sometimes a small percentage of carbon dioxide, nitrogen, hydrogen sulfide, or helium.

It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure under the surface of the Earth over millions of years.

The energy that the plants originally obtained from the sun is stored in the form of chemical bonds in the gas.

West Texas Intermediate (WTI), also known as Texas light sweet, is a grade of crude oil used as a benchmark in oil pricing.

This grade is described as light because of its relatively low density, and sweet because of its low sulfur content.

It is the underlying commodity of New York Mercantile Exchange's oil futures contracts.

Petroleum (from: "rock" + : "oil") is a naturally occurring, yellow-to-black liquid found in geological formations beneath the Earth's surface, which is commonly refined into various types of fuels.

Components of petroleum are separated using a technique called fractional distillation.

The usage and pricing of gasoline (or petrol) results from factors such as crude oil prices, processing and distribution costs, local demand, the strength of local currencies, local taxation, and the availability of local sources of gasoline (supply).

Since fuels are traded worldwide, the trade prices are similar.

The price paid by consumers largely reflects national pricing policy.

Some regions, such as Europe and Japan, impose high taxes on gasoline (petrol); others, such as Saudi Arabia and Venezuela, subsidize the cost.

Western countries have among the highest usage rates per person.

The largest consumer is the United States, which used an average of 368 million US gallons (1.46 gigalitres) each day in 2011.