Brent crude – also referred to as Brent blend – is one of three major oil benchmarks used by those trading oil contracts, futures and derivatives. 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 definition
Oil benchmarks
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.
Brent crude is the most traded of all of the oil benchmarks, and is defined as crude mostly drilled from the North Sea oilfields: Brent, Forties, Oseberg and Ekofisk (collectively known as BFOE). This oil type is widely used as it is both sweet and light, making it easy to refine into diesel fuel and gasoline. That, and its relative ease of transporting being produced at sea, make it so widely traded.
See live prices for brent crude
See the current price of Brent crude oil on its market data page.
Help and support
Or ask about opening an account on 1800 601 799, or +61 3 9860 1799, or helpdesk.au@ig.com.
If you're calling from NZ, you can contact us on 0800 442 150
We're here 24 hours a day, except from 7am to 5pm Saturdays (AEST).
