Brent Crude Oil Futures

QUOTE AND NEWS
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...
The Hindu Business Line  Oct 22  Comment 
Brent crude futures steadied above $86 a barrel on Wednesday, clinging to gains from the previous session as buyers gradually returned to a market hammered to four-year lows by abundant supply.
Bloomberg  Oct 15  Comment 
Brent Crude Futures Fall to Four-Year Low on Supply Glut Brent crude fell to the lowest level in four years on concern global supply is outpacing demand. West Texas...
New York Times  Oct 10  Comment 
Global shares fell to a six-month trough and Brent crude futures tumbled to their lowest since 2010 on Friday as investors worried about the prospect of a widespread economic slowdown just as U.S. monetary stimulus nears its end.
The Hindu Business Line  Oct 3  Comment 
Brent crude futures rose towards $94 a barrel on Friday after a three-day slide pulled prices to their lowest since 2012, but the overall tone remains bearish, amid ample supply. The cru...
The Hindu Business Line  Oct 2  Comment 
Brent crude futures hovered near $94 a barrel on Thursday and were close to their lowest levels in more than two years, reflecting sustained pressure from plentiful global supply and weak demand c...
Reuters  Sep 30  Comment 
Brent crude futures edged back down towards $97 a barrel on Tuesday because of ample supplies, a lacklustre global economy and the strengthening of the dollar to a four-year peak against a basket of major currencies.




 
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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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