mcx crude oil Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. mcx crude oil Blogs, Comments and Archive News on Economictimes.com Brent crude was up $1.24, or 3.7% on the day, at $34.46 per barrel by 14075 GMT after rising earlier by over 7%. India's oil import bill may halve if current crude price Brent Crude oil is a major benchmark price for purchases of oil worldwide. While Brent Crude oil is sourced from the North Sea the oil production coming from Europe, Africa and the Middle East flowing West tends to be priced relative to this oil. The Brent prices displayed in Trading Economics are based on over-the-counter (OTC) and contract Crude oil for April delivery was up by Rs 73, or 2.22 per cent, to Rs 3,367 per barrel with an open interest of 1,753 lots. Globally, West Texas Intermediate was trading higher by 2.66 per cent at $ 45.95 per barrel and Brent crude was up by 2.94 per cent to $ 51.13 per barrel in New York.