Brent Crude Oil (BRENTOIL) perpetual market

Brent crude oil is the leading international benchmark for the price of oil, used to price roughly two-thirds of the world's traded crude. Named after a North Sea oil field, Brent is a light, sweet grade whose price, quoted per barrel, is set through futures traded on global exchanges and reflects supply and demand for seaborne crude across Europe, Africa and the Middle East. Its price is driven by decisions of the OPEC+ producer group, global economic growth, geopolitical events in oil-producing regions, inventories and the strength of the US dollar. Because oil underpins transport, industry and petrochemicals, Brent is one of the most economically significant prices in the world, feeding into inflation and energy costs everywhere. Traders watch the spread between Brent and the US benchmark, West Texas Intermediate, as a gauge of regional supply-and-demand differences and transport dynamics.