Difference between Brent and WTI-2

•Brent crude price is the international benchmark price used by the OPEC while WTI crude price is a benchmark for US oil prices.
•Since India imports primarily from OPEC countries, Brent is the benchmark for oil prices in India.
•Cost of shipping for Brent crude is typically lower, since it is produced near the sea and it can be put on ships immediately. Shipping of WTI is priced higher since it is produced in landlocked areas like Cushing, Oklahoma where the storage facilities are limited.