Brent Crude Oil (XBRUSD) and West Texas Intermediate (XTIUSD) are both light, sweet crude oils, but there are still slight differences in API gravity, sulphur content, and the resulting refining costs. (API gravity is a measure of how light or heavy crude oil is. A higher API gravity indicates a lighter crude oil, which is generally easier to refine.)
In terms of API gravity, West Texas Intermediate has a slightly higher API gravity of approximately 39–40°, while Brent Crude Oil is around 37–38°. This means that West Texas Intermediate is lighter and can more readily produce lighter refined products such as gasoline during the refining process.
In terms of sulphur content, both are classified as sweet crude oils, but West Texas Intermediate has a lower sulphur content. As a result, it generally requires less desulphurisation treatment, with relatively lower energy consumption and processing requirements during refining.
Therefore, based on the characteristics of the crude oil itself, West Texas Intermediate is generally easier and less costly to refine because it is lighter and lower in sulphur. However, Brent Crude Oil is widely used as a global crude oil pricing benchmark due to its greater accessibility, transportation flexibility, and market liquidity.