Definition
The two main oil price benchmarks. Brent is the global benchmark from the North Sea; WTI (West Texas Intermediate) is US oil priced at Cushing, Oklahoma.
The story
When you hear "oil rose 3%," it's one of these two. Higher oil means higher costs for gas, shipping and plastics, which can feed into inflation and, in turn, into what the Fed does with rates.
Why markets watch it
Big oil moves can shift inflation and rate expectations.
Connects to
The Federal ReserveInflationCrude inventoriesOPEC+Strait of HormuzBarrel
Last seen in
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms