Brent
Brent Blend is a benchmark crude oil produced from U.K. North Sea oilfields. A large proportion of internationally traded crudes are priced against Brent. It is a light, sweet crude with an API gravity of 38 and contains 0.38 percent sulphur by weight. Crudes with less than 0.5 percent sulphur are said to be sweet, those with more than 0.5 percent are said to be sour. It is traded on forward markets and is the basis of some of the futures contracts on the International Commodity Exchange (ICE).
See also: Dated Brent, WTI, Paper Barrels, Dubai Crude