Get ready to mark the date on your peak oil calendars.
It's been a long time coming, but Brent crude may finally top the light sweet crude from Texas — known as Western Texas Intermediate — as the global oil benchmark.
Typically, WTI crude from Cushing, Oklahoma, holds a higher price than Brent crude.
The difference is in the quality: the less sulfur, the easier it is to refine the crude into gasoline.
WTI is both lighter and sweeter, containing about 0.24% sulfur. Brent crude has about 0.37% sulfur and is still classified as a sweet crude.