Brent and WTI Spot

World oil prices are most often referenced to the Brent Oil price in the UK, or the WTI Oil price in the USA. These oil prices are determined on the futures market (electronic financial exchange) around the world. When making decisions to invest in Oil and Gas, complete Seismic Evaluation, or conduct Geology Studies and Reservoir Engineering Studies, the oil price is an important factor in determining the economic viability of projects and the expectations of the future oil price from an integral input in to the capital budgeting and decision-making process.