Brent crude is a type or grade crude oil from the Brent oilfield region near the UK.
Not all crude oil is alike. It has properties of light to heavy which depends on it hydrocarbon chain mix and sweet to sour which depends on contaminants especially such as sulfur compounds which are undesirable. Light sweet crude is more desirable than heavy sour crude because of requirements it places on the refining operations. The desirable kind is easier to refine to desirable gasoline and low in sulfur so it commands a premium price.
So the Brent crude is a light, sweet crude well known for its properties. The other worldwide well-known type is West Texas Intermediate.(WTI)
These are known as benchmark crude oil - when a price is quoted for a barrel of oil it will refer to one of these. Then discounts or premiums can be placed on oil of other types depending upon its relative desirability. Its easy to benchmark a couple of predictable types rather than have a large price list for many grades of crude that needs to be updated as price/demand changes..
Source Quora Answered by Loring Chien :-Learned about the oil industry at age 10
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