A type of oil that is sourced from the North Sea, now primarily from the UK, Norway, Denmark, the Netherlands and Germany. This type of oil is part of the price benchmark for almost two-thirds of the world’s oil. Brent is one of the four North Sea oil varieties used to price crude from the Middle East, Africa and Russia. The other grades are Forties, produced by BP Plc, Norsk Hydro ASA’s Oseberg blend and ConocoPhillips’s Ekofisk. Brent crude oil is not as light or as sweet as its counterpart, West Texas Intermediate oil.