Brent crude
MacroDefinition
Light, sweet crude oil produced in the North Sea. The international oil benchmark — pricing covers about two-thirds of globally traded oil. Trades on ICE.
Brent typically trades at a $1-5 spread over WTI (US benchmark). Spread widens when US production grows faster than global demand. Brent is the reference for most international long-term crude contracts.
Brent typically trades at a $1-5 spread over WTI (US benchmark). Spread widens when US production grows faster than global demand. Brent is the reference for most international long-term crude contracts.