Brent crude oil prices, about brent and how it's traded

Brent Crude is the biggest of the many major classifications of oil consisting of Brent Crude, Brent Sweet Light Crude, Oseberg, Ecofisk and Forties. Brent Crude is sourced from the North Sea. The Brent Crude oil marker is also known as Brent Blend, London Brent and Brent petroleum. It is used to price two thirds of the world's internationally traded crude oil supplies.

The name "Brent" comes from the naming policy of Shell UK Exploration and Production, operating on behalf of Exxon and Shell, which originally named all of its fields after birds (in this case the Brent Goose). It also refers to the formation layers Broom, Rannoch, Etive, Ness and Tarbert, which are named after geographical features, lochs and glens, of the Scottish Highlands.

In addition to the ICE, Brent crude futures are also traded on the NYMEX and have delivery dates in all 12 months of the year.