Why is Brent more expensive than nyme?
Because Brent oil is in the North Sea, and the North Sea oil fields are aging. The quality of Brent crude oil itself is very good, second only to Texas medium crude oil (WTI). The WTI of the United States will be transported to a place called Cushing for storage, and the pipeline to the Gulf of Mexico will not be completed until 2013.
So before that, the liquidity of WTI was much lower than that of Brent crude oil. Originally, the prices of the two oils were similar. On the one hand, the aging of Beihai oilfield, the reduction of oil production, and the internationalization of WTI are lower than that of Brent, resulting in the price of Brent crude oil higher than that of WTI, and the quality of Brent oil is better than that of other oil except Brent. Europe also relies on the quality of Brent, and the heavy oil extracted from other places can not meet the requirements of some European refineries. That's why Brent stands out.