What is Brent crude?

BRENT CRUDE is the benchmark against which the majority of the 100m barrels of crude oil traded every day are priced. At the start of October the price of Brent crude rose above $85 a barrel, its highest level in four years. But the black stuff that makes up the Brent benchmark comprises a tiny fraction of the world’s extracted oil.

What is Brent & how does it work?

Brent is an international benchmark that underpins prices for much of the crude and liquefied natural gas that trades globally each day. It can make or break fortunes and determine fuel costs for businesses and drivers around the world. Here is how it works: **A price-reporting agency known as Pl

Where does Brent Oil come from?

When the Brent benchmark was first adopted for widespread use in 1985, the oil came from Shell’s Brent oil field. But as production diminished, crude oil from other fields in the North Sea was added into the blend that makes up the benchmark.

What is a Brent benchmark?

U.S. producers use the Brent benchmark to determine the destination of exports, either to Europe or to Asia. West Texas Intermediate (WTI) is a landlocked crude with logistics and storage constraints; it reflects regional fundamentals in the US midcontinent. In the physical oil markets, WTI is primarily used for U.S. and Canadian oil trading.