What Is Brent Crude Oil?
Figures from EIA data; latest published observations: WTI Oct 20, 2026, Brent Oct 20, 2026.
Brent is the most widely used global crude oil benchmark. [EIA] The latest published EIA spot price for Brent is $115.22 per barrel, observed on Oct 20, 2026.
A basket of North Sea crudes
The name comes from the Brent field in the U.K. sector of the North Sea. Brent prices now refer to a basket of light, sweet North Sea grades: Brent, Forties, Oseberg, Ekofisk and Troll. [EIA] As production of those grades slowly declined, most Brent price assessments began incorporating U.S. WTI crude, priced at Midland, Texas, into the basket in 2023. [EIA]
Spot and futures
The front-month Brent futures contract on the Intercontinental Exchange (ICE) is the most widely used measure of the Brent price, because it is so widely traded. [EIA] This site shows the EIA spot price series for Brent (RBRTE), which can differ from the futures price.
Brent by the numbers
- Highest published daily spot price: $143.95 on Jul 3, 2008. Adjusted to September 2026 dollars (CPI-U), the highest is $220.50 on Jul 3, 2008.
- Lowest published daily spot price: $9.10 on Dec 10, 1998.
- Past 52 weeks: low $59.93 (Dec 16, 2025), high $138.21 (Apr 7, 2026), average $88.92.
- EIA daily records start on May 20, 1987.
See the Brent price page for full history, or WTI vs Brent for how the two benchmarks compare.