Headlines

Palestinian utility secures Leviathan natural gas

TEL AVIV, Israel, Jan. 6 (UPI) -- Partners developing the Leviathan natural gas field in the Mediterranean Sea said Monday a Palestinian utility company is the first to secure a supply contract.

Crude oil up nearly 50 cents toward $93

NEW YORK, Nov. 29 (UPI) -- The price of a barrel of crude oil rose nearly a half-dollar Friday, moving toward $93 a barrel in light post-Thanksgiving trading in New York.

EIA: North Sea oil production down

WASHINGTON, Aug. 30 (UPI) -- The U.S. Energy Department said it expects crude oil production from the North Sea will be substantially lower because of scheduled maintenance.

U.S. gasoline prices continue slow decline

WASHINGTON, Aug. 12 (UPI) -- U.S. consumers Monday paid less for a gallon of regular unleaded gasoline than they did last week, AAA reports on a continuing trend.

S&P records biggest weekly loss in seven weeks

NEW YORK, Aug. 9 (UPI) -- The Standard & Poor's 500 index recorded its biggest weekly loss in seven weeks as U.S. stock indexes fell Friday after rising only one day this week.
Stock indexes rebound on U.S. jobless claims

Stock indexes rebound on U.S. jobless claims

NEW YORK, Aug. 8 (UPI) -- U.S. stock indexes rebounded Thursday following a three-session slide after jobless claims fell to their lowest level before the Great Recession.
Stock market indexes tread water in light trading

Stock market indexes tread water in light trading

NEW YORK, Aug. 5 (UPI) -- U.S. stock market indexes treaded water Monday, ending up or down a fraction in quiet trading.

Egypt's impact on oil markets short-lived

ALEXANDRIA, Va., July 16 (UPI) -- Political upheaval in Egypt is wreaking havoc on international oil markets though it's expected to be a short-term problem, a market analysis says.

Geopolitical factors causing oil price spike

PARIS, July 12 (UPI) -- Political upheaval in the Middle East is largely responsible for some of the increase in oil prices on the global market, a market assessment from Paris said.

Lavrov: Azerbaijan oil pipeline contract termination not political

MOSCOW, May 24 (UPI) -- Russia's decision to suspend its use of an Azerbaijani oil pipeline isn't the result of political tensions, Foreign Minister Sergei Lavrov says.

Energy Department lowers gas price forecast

WASHINGTON, May 8 (UPI) -- U.S. consumers should pay about $3.53 for a gallon of regular unleaded gasoline this summer, down from last year's average, the government said.

Mixed energy trends from EIA

WASHINGTON, April 16 (UPI) -- There's an emerging U.S. energy trend that relates population to usage and production, the U.S. Energy Department said.
Relief at pump seen for summer drivers

Relief at pump seen for summer drivers

WASHINGTON, April 10 (UPI) -- U.S. vacationers during peak summer driving season can expect to pay around $3.63 for a gallon of regular unleaded gasoline, an Energy Department report said.

North Sea oil pipeline remains closed

ABU DHABI, United Arab Emirates, March 6 (UPI) -- The Brent crude oil pipeline system in the North Sea will reopen only after internal safety checks confirm its safe to do so, said operator Taqa.

Energy Dept. explains high gasoline prices

WASHINGTON, Feb. 26 (UPI) -- The U.S. Energy Department said some factors contributing to retail gasoline prices spikes aren't yet felt by consumers at the pump.
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Wiki

Brent Crude is the biggest of the many major classifications of oil consisting of Brent Crude, Brent Sweet Light Crude, Oseberg and Forties. Brent Crude is sourced from the North Sea. The Brent Crude oil marker is also known as Brent Blend, London Brent and Brent petroleum. It is used to price two thirds of the world's internationally traded crude oil supplies.

The other well-known classifications (also called references or benchmarks) are the OPEC Reference Basket, Dubai Crude and West Texas Intermediate (WTI).

The name "Brent" comes from the naming policy of Shell UK Exploration and Production, operating on behalf of Exxon and Shell, which originally named all of its fields after birds (in this case the Brent Goose). It also refers to the formation layers—Broom, Rannoch, Etive, Ness and Tarbert, which are named after geographical features—lochs and glens—of the Scottish Highlands).

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Brent Crude."
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