Brent Crude, a classification of light sweet crude oil coming from the North Sea region, is due to replace West Texas Intermediate, also known as WTI or Texas light sweet, as the standard in setting oil prices on the world market. In this video, Motley Fool energy analyst Joel South explains why this may cause American crude prices to drop overall, and which companies may stand to benefit from the new world environment of low prices due to a huge North American oil glut.
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The article A New Benchmark in Oil Prices originally appeared on Fool.com.
Joel South has no positions in the stocks mentioned above. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of Devon Energy and ExxonMobil. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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