Energy — oil and gas

The Markets and Their Instruments — Lesson 3 of 7

Oil is the commodity with the greatest influence on the global economy, and trading it differs from currencies in one fundamental respect: here there is real, physical supply and demand — wells pumping, tankers sailing, refineries processing.

Two grades you see on platforms

Grade	Symbol	Region	Note
West Texas Intermediate	WTI / USOIL	United States	light and low in sulphur
Brent crude	BRENT / UKOIL	North Sea	the global pricing benchmark

03 — Lesson 3 of 7

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