What is the Brent complex?

The Brent complex includes the trading of physically delivered oil such as Dated Brent and cash BFOET, along with financially settled derivatives like ICE BrentTM Futures, Dated-to-Frontlines, Contracts for Differences, and many others. As ICE Brent Futures are cash-settled, there is no need to take physical delivery.

What is the Brent benchmark?

The Brent benchmark is used to price over three-quarters of the world's traded oil, as one of the most liquid crude grades. The waterborne crude oil on which ICE’s Brent benchmark is based has access to global shipping, port and storage capacity. It is processed by refiners around the world.

What is Brent Oil?

This waterborne crude, referred to as brent oil has access to global shipping capacity, global port capacity, and global storage capacity, both onshore and on vessels. It is sold to, and processed by, refiners — not just in Europe, but around the world.

What is the Brent-Dubai spread?

Finally, the Brent-Dubai spread determines the economics of crude oil movements from the Atlantic Basin and Middle East to Asia. While most Middle East sour crude is priced against Dubai, the Dubai benchmark itself is priced against brent oil.