Tuesday, 24 May 2011 13:07

Brent Crude

Also named Brent Sweet Light Crude, Oseberg, Ekofisk and Forties. Its source is the North Sea. The mostly known markers are Brent Blend, London Brent and Brent petroleum. As well, it makes two thirds of the world's internationally traded crude supplies.

Though Brent crude is not as white as WTI, it still counts to one of the light oils. It contains maximum 0.37% sulphur, an API gravity of 38.06 and a specific gravity of 0.85. Its also used to call it sweet oil. Because of its chemical mixture it is easy processed it to gasoline or middle distillates.

Typical Brent refineries are located in Northwest Europe. Is the trade world Brent Crude wears the symbol LCO. The price per barrel are connected to the US dollar rates. Until 2005, the Brent Crude trade took place at the International Petroleum Exchange in London, after 2005 on the electrical ICE (IntercontinentalExchange). Following the economical cooperation of the European states, the biggest provider of Brent crude is the European Union.

Usually, the Brent Crude price is higher than the WTI value. Today it fluctuates around $110 and $113.

 

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