Brent Crude Oil Futures

QUOTE AND NEWS
WA Business News  Aug 22  Comment 
Oil prices have jumped three per cent, with Brent crude futures hitting a three-week high, after US government data showed a larger-than-expected draw in crude inventories and as Washington's sanctions on Iran signalled tightening supplies.
The Hindu Business Line  Aug 20  Comment 
Oil prices dipped on Monday as concerns over slowing economic growth weighed on markets.International Brent crude oil futures were at $71.78 per bar
The Hindu Business Line  Aug 7  Comment 
Oil prices rose on Tuesday ahead of the introduction of US sanctions against major crude exporter Iran.Spot Brent crude oil futures were at $73.88 p
The Economic Times  Jun 21  Comment 
Brent crude futures were down 21 cents at $74.53 a barrel, while US crude eased 6 cents to $65.65.
Channel News Asia  Jun 14  Comment 
LONDON: Oil prices steadied on Thursday, but were likely to remain under pressure from evidence of rising U.S. output and uncertainty over the outlook for supply before a key meeting next week of the world's largest exporters. Brent crude futures...
Reuters  Jun 4  Comment 
Brent crude oil futures slid for a second session on Monday as the market was weighed down by a climb in U.S. output to a record-high and expectations that OPEC members will raise supplies.
The Hindu Business Line  Jan 4  Comment 
Brent crude futures jump to $68.23 a barrel
The Hindu Business Line  Sep 22  Comment 
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...
The Hindu Business Line  Aug 23  Comment 
Oil prices fell early on Wednesday, squeezed by concerns of oversupply sparked by rising Libya output. Brent crude futures, the international benchmark for oil prices, were at $51.61 per barrel at...
The Hindu Business Line  Jul 27  Comment 
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. Brent crude futures wer...




 
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Brent Crude Oil futures are traded on the New York Mercantile Exchange under ticker symbol SC in U.S. dollars and cents per barrel.[1]

The chart at left shows front-month Brent Crude Oil futures prices on the New York Mercantile Exchange (NYMEX) traded in U.S. dollars and cents per barrel.

NOTE:Because it is of international origin, the base ticker for Brent Crude varies depending on the financial service being used to determine the quote. On Wikinvest, the symbol SC is used, while on the NYMEX, the symbol BZ is typically used. Elsewhere, the symbol IB is occasionally employed. The logic depends entirely upon the data provider and the exchange.

Delivery Dates

Brent Crude Oil futures are delivered every year in January, February, March, April, May, June, July, August, September, October, November and December (all months).[1]

The following is a table with Brent Crude Oil futures delivery dates and resultant tickers for 2009. For an explanation on commodity tickers see commodity ticker construction.

Delivery Month Full Ticker Symbol Thomson-Reuters Symbol
January, 2009SCF9SC/F9-NM
February, 2009SCG9SC/G9-NM
March, 2009SCH9SC/H9-NM
April, 2009SCJ9SC/J9-NM
May, 2009SCK9SC/K9-NM
June, 2009SCM9SC/M9-NM
July, 2009SCN9SC/N9-NM
August, 2009SCQ9SC/Q9-NM
September, 2009SCU9SC/U9-NM
October, 2009SCV9SC/V9-NM
November, 2009SCX9SC/X9-NM
December, 2009SCZ9SC/Z9-NM


Contract Specifications

Contract Size

One Brent Crude Oil futures contract on the New York Mercantile Exchange is 1,000 barrels.[1]

Tick Value

$0.01 per barrel.

Tick move or minimum move for the contract = $0.01 or 1ct.

Tick value = value of minimum move = 0.01 * 1000 = $10.0. [1]

Daily Price Limit

No price limits.[1]

Margins

Initial Margin = $7,425 USD for Non-member Customer - as of 1-June-2009

see http://www.nymex.com/BZ_marg.aspx

Trading Hours

  • On the CME Globex electronic platform: 6:00 PM Sundays through 5:15 PM Fridays, with a 45-minute break each day between 5:15 PM and 6:00 PM, New York Time.[1]

Last Trading Day

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.[1]

Deliverable Grades

Current pipeline export quality Brent blend as supplied at Sullom Voe.[1]

References

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 The New York Mercantile Exchange's contract specification for Brent Crude Oil futures
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