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.
In order to improve the effectiveness, liquidity and cost control of price difference trading between Brent crude oil and WTI crude oil, NYMEX sets the public quotation of Brent crude oil futures trading in the trading hall of Dublin, and trades on the nymexaccess electronic system platform in the rest of the time.