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DAILY NEWS ANALYSIS

GS-III :
  • 23 April, 2020

  • 2 Min Read

Brent and WTI

Brent and WTI

  • Brent crude oil originates from oil fields in the North Sea between the Shetland Islands and Norway, while West Texas Intermediate (WTI) is sourced from US oil fields, primarily in Texas, Louisiana, and North Dakota.
  • WTI with a lower sulphur content (0.24%) than Brent (0.37%), is considered "sweeter".
  • Both oils are relatively light, but Brent has a slightly higher API gravity, making WTI the lighter of the two.
    • American Petroleum Institute (API) gravity is an indicator of the density of crude oil or refined products.
  • Brent crude price is the international benchmark price used by OPEC while WTI crude price is a benchmark for US oil prices.
    • Since India imports primarily from OPEC countries, Brent is the benchmark for oil prices in India.
  • The cost of shipping for Brent crude is typically lower since it is produced near the sea and can be put on ships immediately. Shipping of WTI is priced higher since it is produced in landlocked areas like Cushing, Oklahoma where the storage facilities are limited.

Source: TH


Competition Commission of India (CCI)

Competition Commission of India has selected Ansuman Pattnaik as the new head of its investigation’s unit recently. The Competition Commission of India (CCI) is a statutory body within the Ministry of Corporate Affairs. It was established in 2003, but became fully functional in 2009. The CCI aims to establish a

Connected Lending (CL)

RBI’s move to consolidate the scattered laws on connected lending is welcome. CL refers to persons who are in the position to control the decision of the lender. CL is the extension of credit to individuals or firms connected through ownership or the ability to exert control, whether direct or indirect. CL refers to cases where the

Cosmic Distances

No human probe has travelled much beyond the Solar System, yet we are able to measure distances across billions of light-years. The space beyond Earth is so incredibly vast that units of measure, which are convenient in everyday lives, can become gigantic. Distances between the planets, and especially between the stars, become so big when e

Devil Comet

Mount Everest-sized Devil comet hurtling in Earth’s direction could explode today. Pons-Brooks Comet - Comet 13P/Pons-Brooks, also called the Devil Comet, is about the size of Mount Everest and it is hurtling towards Earth. After an outburst in July, scientists believe that the comet could explode once again today. Ice volcanoe

Kakad Bhairav or Bhilat Baba BHILS

A stone deity worshipped by the Bhils in Madhya Pradesh’s Bagh was recently proved to be a fossilized dinosaur egg. Just like their ancestors worshipped ancient stones as deities, generations of Bhils had worshipped this sunbaked, reddish-brown Kakad Bhairav or Bhilat Baba. Sacrifices of chickens and sheep marked their whispered pleas

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