Brent Сrude Oil, also known as London Brent or North Sea Oil is a light crude oil but slightly heavier than WTI. It is the world benchmark for Oil prices and produced in many areas of the world no just the North Sea. It usually trades at a premium to WTI and has a higher Sulphur content, although a lower specific gravity.
The Brent Сrude oil was originally produced from the Brent oilfield in the North Sea. About 2/3rds of all crude oil contracts around the globe include Brent Сrude oil, making it the most popular marker. Its relatively low density and sulphur content are the reasons why it’s described as light and sweet. One of the advantages is transportation since this type of oil is waterborne. The Brent Crude oil marker is also known as Brent Blend, London Brent and Brent petroleum and has a UKOIL ticker symbol.