The Brent/WTI spread has historically ranged between $4/bbl and $8/bbl, but it can expand or contract based on factors related to U.S. and international supply and demand conditions. For example, the Brent/WTI spread hit nearly $14/bbl in April 2011 when protests sparked market fears of significant oil supply disruptions in the Middle East.

Oil futures traded lower Wednesday as official U.S. data showed an unexpected weekly climb in domestic crude inventories, putting prices on track to post their first loss in three sessions.

Oil prices fell Tuesday after U.S. officials said Israel had assured the Biden administration that it wouldn't target Iran's oil or nuclear facilities in a planned a

WTI oil has an American Petroleum Institute gravity of 39.6 degrees, considered “light.” WTI also has a sulfur content of just 0.24%, making it very “sweet.” WTI crude oil is typically the benchmark for U.S. oil prices in the trading world.

Oil futures traded lower on Wednesday after the Energy Information Administration reported an unexpected rise in U.S. co

U.S. index futures declined in pre-market trading on Wednesday. Investors are focusing on rising 10-year Treasury yields, statements from central bank policymakers, and today’s financial results from major companies.