Hello, @TFS,
The best formats for websites are JPEG and PNG.
Use a JPEG for photographs as they have a high color count. This format uses special compression to reduce file size while not affecting the clarity of the image.
Use PNGs for images such as screenshots, illustrations, and website design images like icons and buttons. It uses a lossless compression technique to maintain a high-quality image. Steer clear of using PNGs for photos as it will result in huge file size.
Further, you can read these articles :
1. https://qodeinteractive.com/magazine/png-vs-jpg-wordpress/#png-vs-jpg
2.https://www.bluearcher.com/blog-item-jpg-vs-png-for-web
Regards 8Themes Team.