First of all, the unhealthy development of the American economy led some speculative buyers to choose London Brent.

Second, the Brent crude oil market in the North Sea is a relatively developed market in Europe, with spot and futures markets. At present, the price system covers 65% of the world crude oil trading volume, and Brent crude oil futures contract is a part of Brent crude oil pricing system. Now the Brent crude oil price in the North Sea has become the reference price of the world crude oil price, among which, the Brent price is used as a reference in northwest Europe, the North Sea, the Mediterranean, Africa and some Middle Eastern countries.