Brent Crude Oil Price Today

Brent crude oil is the world's most widely used benchmark for international oil pricing, referenced in approximately two-thirds of all global crude oil contracts. Traded on the Intercontinental Exchange (ICE) under ticker BZ, Brent is a light, sweet crude originally sourced from the North Sea's Brent oil field between Scotland and Norway. Today, the Brent benchmark is based on a basket of North Sea crudes including Brent, Forties, Oseberg, Ekofisk, and Troll (collectively known as BFOET). With an API gravity around 38 degrees and sulfur content of about 0.37%, Brent is slightly heavier and more sulfurous than WTI but remains highly desirable for refining. The spread between Brent and WTI — known as the Brent-WTI spread — is closely watched by traders as an indicator of global supply-demand dynamics versus U.S. domestic conditions.