Brent index is associated with

The Brent index is a major global benchmark for crude oil prices. It specifically refers to Brent Crude, a light sweet crude oil extracted from the North Sea, which serves as a primary pricing reference for two-thirds of the world's internationally traded crude oil supplies. Financial markets track Brent through real-time data and futures contracts traded on exchanges like the Intercontinental Exchange (ICE). While other indices exist for different sectors, such as the Baltic Dry Index (BDI) for shipping rates, the Brent index is exclusively associated with the energy sector and oil market movements [1]. It is used by traders, governments, and international organizations to monitor global energy costs and inflation trends. Consequently, it is the standard for pricing oil imports in many regions, including Europe and parts of Asia.

Sources

1. [1] https://pmc.ncbi.nlm.nih.gov/articles/PMC12279113/