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Brent crude

Definition:

A type of oil sourced from the North Sea often used as a benchmark to price oil. The other well-known classifications are West Texas Intermediate (WTI), Dubai Crude, and OPEC Reference Basket.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Noisy Chaos

A chaotic dynamical system with either observational or system noise added. See: Chaos, Dynamical Systems, Observational Noise, System Noise.

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