Brent crude oil is the basic commercial classification of light, sweet crude oil. It is used as a basic standard for oil purchase prices in the world. This grading is described as light according to its relatively low density. It is described as sweet because it contains a low percentage of the sulfur element. Oil is extracted Brent from the North Sea, and according to the differences between Brent oil and other crude oils, its selling price may be lower or higher than other types, but its price value is used to price about two-thirds of the world’s imports of crude oil that are traded.
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