Brent Crude Oil (BRN)
Reference (marker) grade of oil produced in the North Sea. grade name comes from the eponymous field in the North Sea, opened in 1970. Brent word formed from the first letters of the names of reservoirs – Broom, Rannoch, Etieve, Ness and Tarbat.
In fact, a mixture of oil produced in offshore fields Brent, the Oseberg and Forties between the coasts of Norway and Scotland. Oseberg and Forties components were added to the mixture only in 2002 and since then this oil is also called BFO. It is one of the key oil brands traded on the International Petroleum Exchange. The price of Brent crude in 1971 is the basis for pricing about 40% of world oil prices, in particular, of Urals Russian oil.
Brent Crude oil – is a global standard black gold for its quality, properties and composition, which is the most optimal from the point of view of processing and production of petroleum products. That is why this brand is called “standard”.
The chemical composition and properties
Brent mixture is classified as light sweet crude oil, its density at 20 ° C approx. 825-828 kg / m³ (38,6-39 degrees API), the sulfur content of approx. 0.37%.
Volatility of oil makes the transaction with the asset profitable enough, but the risks of oil trading are essential. Therefore, to participate in the auction of oil traders are not recommended with the smallest capital.