Brent Crude Oil Futures

QUOTE AND NEWS
The Hindu Business Line  Jan 25  Comment 
Brent crude futures contract traded on the Intercontinental Exchange (ICE) is in a strong downtrend. The contract recorded a high of $115.71 per barrel in June last year and has tumbled 58 per...
Reuters  Jan 22  Comment 
The discount for U.S. crude relative to Brent crude futures widened nearly 30 percent after weekly U.S. government data on Thursday showed a larger-than-expected U.S. crude stock build last week.
Reuters  Jan 16  Comment 
Brent crude oil futures rose above $49 a barrel on Friday as the IEA said the tide of recent price slumps may turn, although analysts said a strong rebound anytime soon was unlikely as global output continues to outweigh demand.
The Hindu Business Line  Jan 15  Comment 
Gulf stock markets posted broad gains in early trade on Thursday after oil prices rebounded on Wednesday.Wednesday’s 4.5 per cent surge in Brent crude futures, the biggest percentage gain s...
The Hindu Business Line  Jan 2  Comment 
Brent crude futures retreated from early highs above $58 and fell towards $57 a barrel on Friday as an abundance of oil erased earlier support drawn from a larger-than-expected fall in US crude st...
The Economic Times  Dec 30  Comment 
European shares fell 0.5%, led by energy companies as Brent crude oil futures fell to a 5-1/2 year low on persistent worries about a global supply glut.
Yahoo  Dec 16  Comment 
Brent crude futures fell for a fifth straight day on Tuesday to end below $60 a barrel while U.S. crude finished a volatile session slightly higher as trading of expiring options helped defend the price ...
Bloomberg  Dec 3  Comment 
Brent Crude Futures Decline Seventh Time in Eight Days Brent oil fell to the lowest level in more than four years as investors digested the impact of OPEC’s decision to...
The Hindu Business Line  Oct 27  Comment 
Brent crude futures fell below $86 a barrel on Monday after Goldman Sachs cut its price forecast for the contract and for US oil in the first quarter of next year by $15. The US investmen...




 
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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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