Brent Crude: Encyclopedia - Brent Crude

Brent Crude

Brent Crude is one of the major classifications of oil consisting of Brent Crude, Brent Sweet Light Crude, Oseberg and Forties. Brent Crude is sourced from the North Sea.

Oil production from Europe, Africa and the Middle East flowing West tends to be priced relative to this oil, i.e. it forms a benchmark.

Brent blend is a light crude oil, though not as light as West Texas Intermediate (WTI). It contains approximately 0.37% of sulfur, classifying it as sweet crude, yet again not as sweet as WTI. Brent is ideal for production of gasoline and middle distillates. It is typically refined in Northwest Europe, but when the market prices are favorable for export, it can be refined also in East or Gulf Coast of the United States or the Mediterranean region.

Typical price difference per barrel is about $1 less than WTI, and $1 more than OPEC Basket.

See also

• Brent oilfield
• Petroleum Classification
• West Texas Intermediate
• North Sea oil
• Dubai Crude

Adapted from the Wikipedia article "Brent Crude", under the G.N U Free Docmentation License. Please also see http://en.wikipedia.org/wiki