British crude oil, also known as Brent crude oil futures, is an international crude oil futures contract. He refers to the spot oil contract price on the London Futures Exchange.
American crude oil, also known as West Texas Intermediate crude oil, is based on the price of the New York Mercantile Exchange light sweet crude oil contract.
There are also great similarities in price fluctuations between the two, but many investors prefer to trade Brent British crude oil UKOIL.