1. Brent crude oil, produced in Brent area of North Atlantic. London Intercontinental Exchange and the New York Mercantile Exchange have their futures trading, which is the benchmark of market oil price.

Brent is a light and low-sulfur crude oil, which is produced in Brent and Nizhnan oil fields in the North Sea and widely traded in futures, OTC swaps, forwards and spot spot markets. At present, more than 65% of the world's physical crude oil is linked to Brent system pricing. The loading port of Brent crude oil is Sullom Voe in shetland islands, Beihai. The main users are refineries located in northwest Europe and the east coast of the United States.

Second, the Midland crude oil:

The New York Mercantile Exchange's light sweet crude oil futures are the largest commodity futures in the world at present. Because of good contract liquidity and high price transparency, NYMEX's light sweet crude oil futures price is regarded as one of the benchmark prices in the world oil market. The futures delivery place is located in Cushing, Oklahoma, and it is also the delivery place of the US oil spot market.