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Brent

Brent is a global benchmark crude oil price index that tracks the value of light sweet crude oil extracted from fields in the North Sea. The index is named after the Brent oilfield located between the Shetland Islands and Norway, and it serves as a reference price for approximately two-thirds of the world's internationally traded crude oil supplies. Brent crude is characterised by its relatively low density and low sulphur content, making it a light sweet crude that is easier and cheaper to refine into petrol and diesel. The price is determined through trading on the Intercontinental Exchange (ICE) in London, where futures contracts are bought and sold by traders, refiners, producers and financial institutions. Movements in the Brent price signal shifts in global oil supply and demand, geopolitical tensions affecting production regions, and broader macroeconomic conditions. The index is closely watched by governments, energy companies and investors as an indicator of global energy market health. Brent is often compared with West Texas Intermediate (WTI), the main US crude benchmark, with the spread between the two reflecting regional supply dynamics and infrastructure constraints. The benchmark was established in the 1980s as North Sea production grew, and it has since become the dominant global oil price reference, influencing everything from petrol pump prices to national budgets in oil-exporting countries.

Brent Updates


Indonesia coal heaps
Iran war gives small boost to thermal coal, further gains possible - columnist
5th May 2026 By: Reuters

Seaborne thermal coal prices in Asia rallied in the wake of the US and Israeli war against Iran, but the gains are modest and nowhere near the size seen during the crisis created by Russia's... 


When the fuel price becomes a strategy problem
When the fuel price becomes a strategy problem
21st April 2026

South African industry has long treated diesel as a cost of doing business. That calculation has now changed. From 1 April 2026, diesel prices increased by between R7,37 and R7,51 per litre, among... 


An oil rig
Physical oil prices hit record highs near $150/bbl as Hormuz crisis worsens
7th April 2026 By: Reuters

European and Asian refiners are paying record high prices of near $150 a barrel for some crude oil grades, far exceeding prices for paper futures, highlighting the worsening supply crisis from the... 


S&P Global Energy forecasts oil prices of $70/bbl to $100/bbl for the remainder of this year
13th March 2026 By: Schalk Burger

Energy market intelligence company S&P Global Energy says the 17-million-barrel-a-day reduction in crude oil and refined product supply available to the market from March 1 to 11 represents the... 


Drone view of a pump jack
Oil climbs as Iran steps up attacks on Gulf shipping
12th March 2026 By: Reuters

Oil prices jumped on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, raising fears of a prolonged conflict and oil-flow disruptions through the Strait of... 


An oil rig and oil tanker at sea
Oil prices seesaw as markets weigh IEA reserves release, persistent supply concerns
11th March 2026 By: Reuters

Oil prices rebounded on Wednesday as markets doubted whether the International Energy Agency's reported plan for a record release of oil reserves could offset potential supply shocks from the... 


An oil tanker at port
Oil falls as Trump predicts Middle East de-escalation
10th March 2026 By: Reuters

Oil prices fell on Tuesday after hitting an over three-year high in the prior session as US President Donald Trump predicted the war in the Middle East could end soon, easing concerns about... 


An oil tanker at sea
Oil soars 25%, gold drops as Iran war jolts global commodity markets
9th March 2026 By: Reuters

Oil prices surged around 25% on Monday to their highest since mid-2022, with Brent on track for a record one-day gain, while gold fell 2% as an escalating Iran war squeezed world energy supplies,... 


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