Brent and WTI futures are the most important and traded types of crude oils. Brent and WTI crude grades are quite similar from a chemical standpoint as they are both considered to be light and sweet (which means they have a relatively low amount of carbon atoms). Brent is the global benchmark while WTI is the crude benchmark for the USA so the former is used to price the vast majority of crude grades in the world while the latter holds the same role in the States. The trading of these 2 contracts is very important and several market participants often trade them in spread in order to limit the high level of volatility which is often observed in crude oil markets. In the current research we explore how to systematically build a strategy to trade this spread. This research was published on the Medium platform a few years ago but it is still valid today. Please click here to read the rest of the research.