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Oil, Gas & Mining vocabulary · Industry, Reserves & Contracts

Brent crude

Meaning in oil, gas & mining, with examples

nounCommon term

In oil, gas & mining, Brent crude means: A blend of crude oils from the North Sea whose price is the main international benchmark for pricing oil around the world.

In Turkish: Brent petrolü, Brent ham petrolü

How it is used

News reports and contracts quote Brent in dollars per barrel, and other crudes are priced at a premium or discount to it. The main US benchmark is WTI (West Texas Intermediate), and Dubai/Oman is used for Middle Eastern crude sold to Asia.

Example sentences

  1. Brent crude rose 2 percent after the supply news.

  2. Our crude is sold at a two-dollar discount to Brent crude.

Common collocations

  • Brent futures
  • discount to Brent
  • premium to Brent
  • benchmark crude
  • WTI
  • crude oilOil in its natural state as it comes out of the ground, before it is refined into fuels such as gasoline, diesel and jet fuel.
  • barrelThe standard unit for measuring crude oil, equal to 42 US gallons or about 159 litres. Oil prices and production rates are quoted per barrel.
  • sour crudeCrude oil with a high sulphur content, usually more than 0.5 percent. Crude with little sulphur is called sweet crude.
  • API gravityA scale created by the American Petroleum Institute that shows how light or heavy a crude oil is compared with water. A higher number means lighter oil; water is 10 degrees.

More terms: Industry, Reserves & Contracts

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