Brent Crude is one of three major oil benchmarks used by those trading oil contracts, futures, and derivatives.

It is also called Brent oil, Brent blend, and London Brent.

The other two major benchmarks are West Texas Intermediate (WTI) and Dubai/Oman, though there are many smaller oil varieties traded as well.

Brent crude is the most traded of all of the oil benchmarks.

Most oil is priced using Brent Crude as the benchmark, akin to two-thirds of all oil pricing.

Brent blend is not traded directly in real-time, but brent futures are traded on the Intercontinental Exchange (ICE) as well as NYMEX, with delivery dates for all 12 months of the year.