Brent crude oil is one of the principal benchmark prices for oil traded globally. Originating from the North Sea, Brent serves as a key pricing reference for crude oil produced in Europe, Africa,. Stocks of OMCs, airlines, paints and tyres fell by 1-5 percent. Brent crude surged past $102 a barrel due to Middle East fears. Sensex dropped 850 points amid a broader Indian market selloff..