Among the different types of crude oil that are referenced on the markets we particularly find the following: WTI or West Texas Intermediate and Brent oil from the North Sea that we will particularly examine in this article, as well as other types of crude oil such as Dubai Fateh which is the name for the type of crude oil produced in the Persian Gulf, Bonny Light which is produced in Nigeria and Western Canada Select which is a heavy crude oil originating in Canada.