Brent crude is a crude oil sourced from the North Sea (between Great Britain and Scandinavia). Brent crude is a light sweet crude oil, though not as light or sweet as the West Texas Intermediate (WTI). It contains approximately 0.37% of sulphur. Brent crude is suitable for production of gasoline and middle distillates. It is usually refined in Northwest Europe. It is used to price two thirds of the world’s internationally traded crude oil supplies.
Brent crude is traded at the NYMEX under ticker symbol BZ and at the ICE Europe under symbol B. Contract size in both exchanges is 1,000 barrels with a contract price quoted in US Dollars and Cents per barrel. Delivery dates take place the twelve months of the year.