The Basics of Brent Oil Trading

Brent oil is the light, sweet crude sourced from the North Sea. This crude oil was named 'Brent' after the Brent goose, as the oil exploration company Shell Oil had a policy to name its fields after birds. This price is based on deals in the London-based Brent market, which is an informal arena where about $100 billion worth of oil contracts are traded each year.

Brent Oil prices typically move in sync with that of crude oil

USD strength: because Oil is traded against the USD any large moves in the relative strength of the Dollar will affect the Price of Oil.

Geopolitical concerns: A lot of the World’s Oil is drilled in Countries where political risk and instability is common. Fresh problems can create periods of extreme volatility.