This article has been translated from English to Gen Z Slang.
Brent Crude is like THE go-to squad when it comes to oil benchmarks for peeps trading oil contracts, futures, and derivatives. 🚀
Also known by its AKA squad names: Brent oil, Brent blend, and London Brent, fam.
The other two main homies in this oil game are West Texas Intermediate (WTI) and Dubai/Oman, but ya know, there are loads of low-key oil types trading, too. 🛢️
Like, "price of oil" is kinda shady 'cause there's no one true price tag on oil. Each benchmark's got its own vibes and price. 💸
This means we've got a bunch of oil prices, so if you wanna peep the "price of oil," you gotta specify which benchmark, ya dig?
Brent crude's the most swiped right of all the oil benchmarks. ✨
Most oil gets its price game from Brent Crude, like almost two-thirds of it, yo. 🔥
Brent blend ain't bought IRL like that, but its futures trade on the Intercontinental Exchange (ICE) and NYMEX, ready for delivery any month of the year. 📅
Oil benchmarks give traders and speculators a map to know what type of oil they're messing with. Oil from different fields has its own flex 'cause of different industrial uses and how chill it is to move around. 🌎
This grade's called light 'cause it's all about that low density life, and sweet 'cause it keeps it low on sulfur. Makes it super chill to refine into diesel fuel and gas. 🛢️
Brent Crude gets scooped from the North Sea and includes Brent Blend, Forties Blend, Oseberg, and Ekofisk crudes (hit up BFOE Quotation if you know, you know).
Its easy-breezy transport game, being from the sea, makes it such a hot trade. 🌊
The Brent Crude oil badge is repped as Brent Blend, London Brent, and Brent petroleum. 💫