95.20$
▼ MARKET PANIC : -0.75% (24H)
BRENT OIL PRICE
SYSTEM STATUS: CRITICAL
Brent Crude - Live Tracker
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About Brent Crude Oil
What is Brent Crude?
Brent crude oil is a major trading classification of sweet light crude oil that originates from the North Sea. Named after the Brent oilfield, it serves as the primary global benchmark for pricing approximately two-thirds of the world's internationally traded crude oil supplies. Brent crude is favored as a benchmark because it is waterborne, making it easier to transport to distant locations.
How is the Brent Oil Price Determined?
The Brent crude oil price is determined by futures contracts traded on ICE Futures Europe (Intercontinental Exchange) in London. Prices are quoted in US dollars per barrel, with each barrel containing 42 US gallons (approximately 159 liters). Trading operates nearly 24 hours a day, from Sunday 23:00 to Friday 23:00 London time, allowing global participants to react to market events in real time.
Brent vs WTI: Key Differences
While Brent crude is the international benchmark, West Texas Intermediate (WTI) serves as the primary benchmark for US oil pricing. Brent typically trades at a premium to WTI due to its global relevance and higher transportation costs for landlocked WTI oil delivered at Cushing, Oklahoma. The spread between Brent and WTI fluctuates based on supply dynamics, pipeline capacity, and geopolitical factors.
What Affects Brent Crude Oil Prices?
Several factors influence Brent crude oil prices: OPEC+ production decisions, geopolitical tensions in oil-producing regions, global economic growth and energy demand, US dollar strength, inventory levels reported by the EIA and API, seasonal demand patterns, and the transition toward renewable energy sources. Supply disruptions, sanctions, and weather events can cause sudden price spikes.
Frequently Asked Questions
What is the current Brent crude oil price?
The current Brent crude oil price is displayed at the top of this page and updates automatically every 5 minutes using live data from ICE Brent futures contracts. Prices reflect the front-month futures contract, which is the most actively traded.
What is Brent crude oil?
Brent crude is a sweet light crude oil from the North Sea that serves as the global benchmark for oil pricing. It is used to price approximately two-thirds of the world's internationally traded crude oil. The name comes from the Brent oilfield discovered in 1971 by Shell.
What time does the Brent oil market open and close?
Brent crude oil futures trade on ICE Futures Europe nearly 24 hours a day. The trading week opens on Sunday at 23:00 London time and runs continuously until Friday at 23:00 London time, with a brief daily maintenance break. This near-continuous trading allows the market to react to global events around the clock.
What is the difference between Brent and WTI crude oil?
Brent crude originates from the North Sea and is the global benchmark, pricing about two-thirds of the world's oil. WTI (West Texas Intermediate) is a US-centric benchmark delivered at Cushing, Oklahoma. Brent is slightly heavier and less sweet than WTI, and typically trades at a premium due to its international relevance and the logistics of WTI delivery.
How often does this page update?
BrentOilPrice.com updates Brent crude oil prices every 5 minutes using live data from ICE futures markets via financial data feeds. The interactive chart, commodity comparison prices (WTI, Natural Gas, Gold), and all displayed figures refresh automatically without needing to reload the page.