Brent Crude Oil

## What this measures

This series measures the spot price of Brent crude oil, a benchmark grade extracted from the North Sea, in US dollars per barrel.

## Why it matters

Brent is a global pricing benchmark for roughly two-thirds of internationally traded crude oil, so changes in its price affect input costs for transportation, manufacturing, and chemicals. Sustained moves signal shifts in global supply, demand, or geopolitical risk that alter procurement budgets and operating margins across industries.

## How to read it

A rising price means oil is becoming more expensive, which raises energy and freight costs; a falling price reduces those costs. Compare the level to historical ranges or to other crude benchmarks to assess whether the move is isolated or part of a broader energy market shift.

## What it does not say

This is a spot price for one grade of crude oil, not a forecast of future prices or a measure of refined product costs such as gasoline or diesel. It does not indicate why the price moved or how long the level will persist.

## Source

The series originates from the US Energy Information Administration and is published by the Federal Reserve Bank of St. Louis. Palanor pulls it from the FRED API nightly.