Brent Crude Oil Futures Trading

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Brent Crude is a major trading classification of sweet light crude oil that serves as a major benchmark price for purchases of oil worldwide. This grade is described as light because of its relatively low density, and sweet because of its low sulphur content.

Brent is the leading global price benchmark for Atlantic basin crude oils. It is used to price two thirds of the world's internationally traded crude oil supplies. Originally Brent Crude was produced from the Brent oilfield. The name "Brent" comes from the naming policy of Shell UK Exploration and Production, operating on behalf of ExxonMobil and Royal Dutch Shellwhich originally named all of its fields after birds in this case the brent goose.

Broom, Rannoch, Etive, Ness and Tarbert. Petroleum production from Europe, Africa, and the Middle East flowing West tends to be priced relative to this oil, i. It contains approximately 0. Brent is suitable for production of petrol and middle distillates. It is typically refined in Northwest Europe. Brent Crude has an API gravity of approximately Contracts are quoted in U.

Historically price differences between Brent and other index crudes have been based on physical differences in crude oil specifications and short-term variations in supply and demand. Many reasons have been given for this widening divergence ranging from a speculative change away from WTI trading although not supported by trading volumesdollar currency movements, regional demand variations, and even politics.

The depletion of the North Sea oil fields is one explanation for the divergence in forward prices. Oil production in the interior of North America has exceeded the capacity of pipelines to carry it to markets on the Gulf Coast and east coast of North America; as a result, the oil price on the US and Canadian east coast and parts of the US Gulf Coast since has been set by the price of Brent Crude, while markets in the interior still follow the WTI price.

Much US and Canadian crude oil from the interior is now shipped to the coast by railroad, which is much more expensive than pipeline. The index represents the average price of trading in the day Brent Blend, Forties, Oseberg, Ekofisk BFOE market in the relevant delivery month as reported and confirmed by the industry media.

A weighted average of first month cargo trades in the day BFOE market. A weighted average of second month cargo trades in the day BFOE market plus or minus a straight average of the spread trades between the first and second months.

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Why do you recommend this news source? Because it is of international origin, the base ticker for Brent Crude varies depending on the financial service being used to determine the quote. Elsewhere, the symbol IB is occasionally employed. The logic depends entirely upon the data provider and the exchange. The following is a table with Brent Crude Oil futures delivery dates and resultant tickers for For an explanation on commodity tickers see commodity ticker construction.

Trading ceases at the close of business on the business day prior to the 15th calendar day prior to the start of the delivery month. If the 15th calendar day is a non-business day in London, trading shall cease on the business day in London immediately preceeding the day preceding the 15th calendar day. Current pipeline export quality Brent blend as supplied at Sullom Voe.

From the makers of. Brent Crude Oil Futures. Day 52 Wk Vol Avg Vol. Unable to complete your request. Please refresh your browser. See more recent news. Oil at highest since mid amid Iran tensions, tighter market. Oil prices narrowly higher as producers meet on output pact.

Oil prices were narrowly higher on Friday as the market waited to see whether major oil producers would back an extension to output cuts beyond March at a meeting in Vienna. Brent crude futures wer Oil prices fall on concerns of oversupply. Oil prices fell early on Wednesday, squeezed by concerns of oversupply sparked by rising Libya output.

Crude oil hovers near 8-week high on lower US stocks. Oil prices were sitting just below 8-week highs on Thursday, buoyed by hopes that a steeper-than-expected decline in US crude oil inventories will reduce global oversupply.

Oil up to near 8-week high on big US draw. Oil jumps to near eight-week high after big draw in U. Oil jumps to near 8-week high after big draw in U. Oil prices steady after drop in fuel stocks stokes demand hopes.

Oil prices were steady on Thursday, holding gains made the previous session after falling US crude and oil product inventories lifted the market. Brent crude futures, the international benchmark fo Oil firm as signs of higher demand outweigh worries of excess stock. Oil prices edged higher in choppy trading on Friday and were on track for solid weekly gains following positive demand signals and a reported decline in stocks. Brent crude futures, the internation Crude oil prices fall ahead of US Independence Day holiday.

Oil prices retreated in Asian trade on Tuesday, halting a run of eight straight days of gains on signs that a persistent rise in US crude production is running out of steam.

Brent crude futures ha Suggest other news sources for this topic. Retrieved from " http: Track your investments automatically. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy.

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The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest. This article describes a futures contract with a discrete termination or delivery date.

View articles referencing this futures contract. Contents 1 Delivery Dates 2 Contract Specifications 2.