Brent Crude Oil

Brent Crude is the global benchmark for approximately two-thirds of the world's internationally traded crude oil. Originally sourced from the Brent field in the North Sea, the contract now references a basket of North Sea crudes (Brent, Forties, Oseberg, Ekofisk, and Troll). Traded on the ICE Futures Europe exchange, Brent is the reference price for oil exports from Europe, Africa, and the Middle East. Key price drivers include OPEC+ supply management, Chinese demand growth, tanker freight rates, and geopolitical risks in major producing regions. Brent typically trades at a premium to WTI due to its seaborne accessibility and global relevance.