Brent crude oil is the biggest of the many major classifications of oil. Some of the other classifications of oil are; Texas sweet light crude, forties, oseberg and ekofisk. Brent crude oil is sourced in the North Sea. The price of Brent crude oil is a benchmark for other types of oil prices. The price of this oil has fluctuated in recent years, going as high as $145 a barrel down to $35 a barrel. On average, the cost of Brent crude oil is $85 a barrel.