What's the difference between oil-based and water-based polyurethane finishes?

Oil-based polyurethane finishes are made with oils and solvents, providing a durable and long-lasting finish. Water-based polyurethane finishes, on the other hand, use water as a base and dry faster with less odor. Oil-based finishes tend to have a warmer tone and amber over time, while water-based finishes remain clear and do not yellow as much.