Brent crude is one of the three major oil benchmarks used in trade oil contracts, futures and derivatives.
It is also called Brent oil, Brent blend, and London Brent.
The other two major benchmarks are West Texas Intermediate (WTI) and Dubai/Oman, though there are many smaller oil varieties traded as well.
Brent crude is the most traded of all of the oil benchmarks.
Most oil is priced using Brent crude as a benchmark, equivalent to two-thirds of all oil prices.
Brent blend is not traded directly in real-time, but brent futures are traded on the Intercontinental Exchange (ICE) as well as NYMEX, with delivery dates for all 12 months of the year.
Oil benchmarks provide a useful way for oil traders and speculators to know which type of oil they are trading. Oil from different fields varies in value thanks to its use in different industries, and varying ease of transport.
This grade is described as light because of its relatively low density, and sweet because of its low sulfur content. This makes it easy to refine into diesel fuel and gasoline.
Brent Crude is extracted from the North Sea and comprises Brent Blend, Forties Blend, Oseberg and Ekofisk crudes (also known as the BFOE Quotation).
Its relative ease of transporting being produced at sea, make it so widely traded.
The Brent Crude oil marker is also known as Brent Blend, London Brent, and Brent petroleum.
Brent crude is extracted from the North Sea and includes Brent blend, Fortis blend, Oseberg and Ekofisk crude (also called BFOE quotation).
Its relatively easy to transport is being produced at sea, making it such a widespread trade.
Brent crude oil markers are also known as Brent Blend, London Brent, and Brent Petroleum.

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