Brent Crude Oil Price Today (Live)
The current Brent crude oil price in US dollars per barrel, live from the front-month ICE Brent futures contract. Brent is the world's main oil benchmark. It is used directly or indirectly to price about two-thirds of internationally traded crude.
Brent crude oil price chart, live
TradingView symbol TVC:UKOIL tracks the front-month ICE Brent futures contract. More timeframes and analysis are on the Brent crude oil price chart page.
What "Brent crude" means
Brent started as the name of a single Shell oilfield in the UK North Sea, which began production in 1976. As output from the original field declined, the benchmark widened to a basket of North Sea grades. Today the price reporting agency S&P Global Platts assesses Dated Brent, the price of physical cargoes loading 10 days to one month ahead. The cheapest grade among the following sets it:
- Brent and Ninian blend (UK)
- Forties (UK, the most frequently delivered grade)
- Oseberg and Troll (Norway)
- Ekofisk (Norway)
- WTI Midland, US crude delivered into Rotterdam, added in June 2023 to keep the basket liquid as North Sea output declines
The price you see on screens and in headlines is not Dated Brent. It is ICE Brent futures, the financial contract linked to that physical market. Futures are where most price discovery happens, and the front-month contract is what TradingView's UKOIL quote follows.
| Exchange | ICE Futures Europe (London) |
|---|---|
| Ticker | B (often shown as BRN; CME's look-alike contract is BZ) |
| Contract size | 1,000 barrels |
| Price quotation | US dollars and cents per barrel |
| Minimum price move | $0.01 per barrel, which is $10 per contract |
| Settlement | Cash-settled against the ICE Brent Index, with an option for exchange of futures for physical (EFP) |
| Expiry | Last business day of the second month before the contract month. For example, the March contract expires at the end of January. |
| Trading hours | 01:00 to 23:00 London time, Monday to Friday |
Source: ICE Futures Europe contract specifications. See Brent crude oil futures for the forward curve and roll calendar.
Brent crude quality
Brent blend is a light, sweet crude, with an API gravity of roughly 38° and sulfur content of about 0.4%. Light, low-sulfur crude yields more gasoline and diesel per barrel and needs less processing. That is why Brent and WTI trade at a premium to heavier, sour grades such as Dubai, Urals or Western Canadian Select.
Why Brent is the global benchmark
- It is seaborne. North Sea cargoes can be shipped anywhere, so Brent reflects the international market rather than one country's pipeline system.
- It has a transparent physical market. A chain of forward, futures, swaps and Dated contracts links paper trading to physical cargoes.
- It is used in pricing formulas. Producers in Europe, Africa and the Middle East (for sales into Europe) set their official selling prices as a differential to Brent.
- It is liquid. ICE Brent futures and options are among the most heavily traded commodity contracts in the world.
What moves the Brent price
Brent is more exposed than WTI to events outside the United States. Disruption around the Strait of Hormuz or the Red Sea, OPEC+ quota decisions, Russian export sanctions, Libyan outages and Chinese import demand all feed into Brent first. US inventory data still matters because WTI and Brent are linked by arbitrage. For the full picture, see what moves oil prices.
2026 context: After US and Israeli strikes on Iran began on 28 February 2026, tanker traffic through the Strait of Hormuz was effectively halted. Brent spot rose from an average of $70.89 in February to $117.29 in April (EIA), its highest monthly level since 2008. See oil prices in 2026, month by month.
Brent price history: key levels
| Milestone | Date | Brent price |
|---|---|---|
| Record intraday high | 11 July 2008 | $147.50 |
| Financial crisis low | December 2008 | ~$36 |
| Highest annual average on record | 2012 | $111.63 |
| Shale-era low | January 2016 | ~$27 |
| Pandemic low (intraday) | April 2020 | ~$16 |
| Russia-Ukraine spike (intraday) | 7 March 2022 | ~$139 |
| 2026 high so far (spot, EIA) | 7 April 2026 | $138.21 |
| Annual average | 2025 | $69.14 |
Annual averages from the U.S. EIA Brent spot price series. Year-by-year data is on oil price history.
Brent crude oil price FAQ
What is the current Brent crude oil price?
The live quote at the top of this page shows the current Brent crude oil price per barrel in US dollars, based on the front-month ICE Brent futures contract. It updates in real time while ICE is open (01:00 to 23:00 London time on weekdays).
Why is Brent more expensive than WTI?
Brent is priced at the coast, where cargoes can go anywhere. WTI is priced inland at Cushing, Oklahoma. Moving US crude to export terminals and across the ocean costs money, so Brent usually trades a few dollars above WTI.
Is Brent the same as North Sea oil?
Brent is a price benchmark based on several North Sea grades: Brent, Forties, Oseberg, Ekofisk and Troll. Since 2023 it has also included WTI Midland delivered to Rotterdam. It is not the output of a single field any more.
What is the difference between Brent futures and Dated Brent?
Dated Brent is the assessed price of physical cargoes loading in the coming 10 days to one month. ICE Brent futures are exchange-traded contracts for a future month that settle in cash against an index. Headlines and live quotes normally refer to the futures price.
What time does Brent crude stop trading?
ICE Brent futures trade from 01:00 to 23:00 London time, Monday to Friday. The daily settlement price is set during a window ending at 19:30 London time.
Related pages
Brent Chart
Live Brent crude oil price chart from intraday to monthly, with the Brent technical summary, a long-run performance view and the key price levels in Brent's history.
Brent Futures
Brent crude oil futures explained: live front-month price, ICE contract specs, expiry rules, month codes and contango vs backwardation.
Brent vs WTI
Brent vs WTI compared: live prices, why Brent trades at a premium, quality and delivery differences, and how the spread has moved since 2010.
WTI Crude Oil Price
Current WTI crude oil price live in USD per barrel, with a real-time chart, NYMEX contract facts, Cushing delivery and key US drivers.