What is Brent crude oil?
Brent crude oil, in English, is produced in the North Atlantic North Sea Brent area. Intercontinental Exchange of London and New York Mercantile Exchange all his futures trading, is the benchmark for market oil prices. The price difference between WTI and Brent in the U.S. market is still very large.
Brent is a light and low sulfur crude oil produced in Brent and Ninian oilfields in the North Sea. It is widely traded in futures, over-the-counter swaps, forward and spot spot spot markets. At present, more than 65% of the world's real crude oil is priced by Brent system. The port of loading Brent crude oil is sullom VOE, Shetland Islands, North Sea. The main users are refineries in northwest Europe and the east coast of the United States.
Brent crude oil futures contracts are settled in cash, with market data collected by isislor, Argus and Reuters in Dublin as index. Brent crude oil futures trading is cleared by the special clearing institution of the exchange, which ensures the safety of funds. Among them, stability, liquidity and market transparency have become the characteristics of NYMEX. Ice Brent crude oil futures contract is a kind of contract that can be delivered in kind. At the same time, the contract can be settled by cash transfer.