Brent Oil: Why This Grade Defines World Prices for Black Gold.

Brent crude oil is one of the leading benchmark grades in the global market for 'black gold'. Brent influences the formation of oil prices all over the world, making it an important indicator in the energy sector.

The News.LIVE website explains where Brent oil is extracted and why it is so valuable.

What does Brent stand for?

Brent Crude is a benchmark grade of oil that is used to determine prices for 40% of global oil supplies, according to 'OilMarket'.

Every extracted oil is compared to Brent. If it is similar enough, the price is high, but if there are many differences, the price is lower.

The chemical composition and physical characteristics of Brent oil:

• API gravity — ≈38°;
• sulfur content — ≈0.37%;
• density — ≈835 kg/m³;
• viscosity — medium, allowing for convenient transportation by sea;
• pour point — -20°C.

Where is Brent oil extracted?

Oil is extracted in the North Sea, on the shelf between the UK and Norway from the Brent field, discovered in 1971 by Shell. This field is named after the Brent Goose species.

Brent oil is primarily used in Europe, Africa, and Asia, and futures for it are traded on the London Intercontinental Exchange (ICE).

The Brent grade became an important indicator in pricing policy as early as the 1970s when the North Sea became an active region for oil extraction. Its increasing production and export volumes to Europe and Asia made it an international benchmark in oil trading.

Today, Brent remains a key indicator in global prices and plays an important role for OPEC, which includes 13 leading supplier countries.

Previously, we published about the possibility of a significant drop in oil prices. You can also find out where a large oil field has been discovered and how this might change the picture.

This is the subversive oil tale of Brent. The North Sea is a field of true treasures in the makeup of black gold, and Brent Goose is not only a type of goose but also the embodiment of oil benchmarks. Discovering this treasure in 1971, Shell marked a colorful page in the history of global oil prices. Buy today, and by tomorrow you will feel the strength of Brent on your skin in the form of global black gold price indicators.