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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.

Energy Department expects $3.55 gasoline

WASHINGTON, Feb. 13 (UPI) -- The U.S. Energy Department said it expects gasoline prices for 2013 to average $3.55 per gallon, down 8 cents compared to last year's estimates.

Analysts see high U.S. gasoline prices

LOS ANGELES, Feb. 12 (UPI) -- Market analysts are betting that gasoline prices in the United States may remain in the grips of an early season spike, an oil analyst said.

Chicago drivers pay top dollar for gas

CHICAGO, Feb. 4 (UPI) -- Rising crude oil prices and refinery issues in the Midwest mean commuters Monday in the Chicago metropolitan area paid top dollar for gasoline, AAA reports.

U.S. Midwest paying top dollar for gas

ANN ARBOR, Mich., Feb. 1 (UPI) -- Higher crude oil prices and a fire that closed a refinery in Ohio are leading to gasoline price spikes in the U.S. Midwest, market analysts say.

Iran's oil sector OK despite sanctions

ZUG, Switzerland, Feb. 1 (UPI) -- Iran "does not really care anymore" about economic sanctions imposed on its energy sector because of export revenues, an economic consultant said.

Taqa restarting Brent crude system

ABU DHABI, United Arab Emirates, Jan. 17 (UPI) -- Abu Dhabi National Energy Co. said it started the process of resuming the flow of oil through its Brent pipeline system following an offshore incident Monday.

Azerbaijan suffers $1B loss from BTC

BAKU, Azerbaijan, Sept. 18 (UPI) -- Azerbaijan suffered a $1 billion loss in revenue from disruptions in crude exports through the Baku-Tbilisi-Ceyhan oil pipeline, state officials said Thursday.

UPI Energy Watch

Nigerian militants shut down oil production again; ExxonMobil to invest in Indonesia; India's ONGC Videsh is getting less oil in Russia.

UPI Energy Watch

BP shuts down gas production; India's ONGC finds uranium in oil wells; Australia's BHP Billiton pledges funds to Angostura gas project.

UPI Energy Watch

Global crude prices could continue to fall; Brazil's Petrobras has contracted its pre-salt finds; Bahrain seeks to double its oil production.

UPI Energy Watch

Hurricane Ike does little long-term damage to Gulf energy installations; India, Bangladesh discuss Bay of Bengal rights; Nigerian militants upped their attacks on oil.

UPI Energy Watch

Brazil's Petrobras has found oil; oil exploration has begun in Guyana; Peru issues oil contracts.

UPI Energy Watch

British gas major BG gives up on Origin Energy; Iran will take oil and gas field bids; NASA estimates carbon scenarios.

UPI Energy Watch

China's pipeline project will use GE energy; BHP Billiton Ltd. evacuates Gulf of Mexico employees; Indonesia seeks oil deal in Iran.
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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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