Brent primitive – also described as Brent combination – is just one of three big petroleum benchmarks employed by people trading petroleum contracts, derivatives and futures. Both big benchmarks have been West Texas Intermediate (WTI) and also Dubai/Oman, while there are lots of smaller petroleum varieties traded also. .
Oil benchmarks offer a helpful means for petroleum traders and speculators to understand which sort of oil that they have been now trading. Oil from other fields changes in value as a result of its own usage in various businesses, and varying simple transport.
Brent primitive could be your very traded of each the petroleum benchmarks, also is thought as primitive mostly drilled out of the North Sea oil fields: Brent, Forties, Oseberg and also Ekofisk (jointly called BFOE). This petroleum type is most widely utilized since it really is both light and sweet, which makes it simple to refine in to gas and petrol. Nevertheless, and its comparative simplicity of being produced in sea, be it widely traded.
See live rates for brent primitive
See the existing cost of Brent crude oil onto its own economy data page.