Brent Crude Oil Futures

QUOTE AND NEWS
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...
WA Business News  Jul 26  Comment 
Oil prices have risen to near eight-week highs, with Brent crude futures above $US50 a barrel, as a much steeper than expected decline in US inventories encouraged hopes the global crude glut would recede.
Reuters  Jul 26  Comment 
Oil prices rose to near eight-week highs on Wednesday, with Brent crude futures at over $50 a barrel, as a fall in U.S. inventories bolstered expectations that the long-oversupplied market was moving toward balance.
Reuters  Jul 26  Comment 
Oil prices rose to near eight-week highs on Wednesday, with Brent crude futures at over $50 a barrel, as a fall in U.S. inventories bolstered expectations that the long-oversupplied market was moving toward balance.
The Hindu Business Line  Jul 20  Comment 
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...
The Hindu Business Line  Jul 14  Comment 
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...
The Hindu Business Line  Jul 4  Comment 
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...
The Hindu Business Line  Jun 28  Comment 
Oil markets were steady to lower on Wednesday after a report of rising US fuel and crude inventories underscored concerns that a three-year supply glut is far from over. Brent crude futures were at...
The Hindu Business Line  May 16  Comment 
Brent crude futures were at $52.05 per barrel, up 0.44 per cent, from their last close
The Hindu Business Line  Apr 10  Comment 
Brent crude futures were at $55.28 per barrel at 0226 GMT, up 4 cents from their last close.




 
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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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