Brent Crude

Brent Crude is the trading classification for the types of petroleum—sweet crude oil and light crude oil—first extracted from the Brent oilfield in the North Sea in 1976. The term Brent Crude also identifies the oil-well Brent Complex in the North Sea, in the north-west area of Europe. In finance, the term Brent Crude colloquially refers to a futures contract for Brent Crude Oil bought and sold in the Intercontinental Exchange (ICE).