Brent Crude Oil Futures

QUOTE AND NEWS
Reuters  Mar 12  Comment 
U.S. and Brent crude futures extended losses on Wednesday after a report of plans for a 5-million barrel release and sale of crude oil from the U.S. Strategic Petroleum Reserve to test the infrastructure.     
Sydney Morning Herald  Nov 26  Comment 
Brent crude oil futures edged lower in choppy trading, as investors awaited fresh data after concluding that a deal between Iran and world powers would bring no immediate increase in crude supplies.     
Reuters  Nov 11  Comment 
U.S. cash crude differentials were mixed on Monday in thin volume, traders and brokers said. The premium of Brent crude futures over U.S. crude increased for a second straight session, offering support to cash crude differentials, sources said....
Reuters  Sep 13  Comment 
Brent crude futures extended gains on Friday towards $113 a barrel on supply concerns, but the contract was still set for its biggest weekly drop in nearly three months as fears of a U.S.-led military attack on Syria recede.
Reuters  Sep 12  Comment 
Brent crude futures stayed above $111 a barrel on Thursday as investors waited to see whether diplomatic efforts to eliminate Syria's chemical weapons would avert the threat of U.S. military action that could lead to a disruption of oil supplies.
Reuters  Sep 11  Comment 
Reuters Market Eye - Cairn India falls 2 percent as Brent crude futures declined more than 4 percent in the previous two days as fears eased of an imminent strike against Syria.
Reuters  Sep 11  Comment 
Brent crude futures gained ground above $111 a barrel on Wednesday, after falling more than 4 percent in the past two days as fears eased of an imminent strike against Syria.
Bloomberg  Sep 10  Comment 
Asian Stocks Snap Rally While Topix Gains as Gold Climbs Most stocks in Asia dropped, halting the benchmark gauge’s longest stretch of gains this year even as Japanese...
Commodity Online  Jun 9  Comment 
and ldquo;As these refineries come back online, we do not expect them to run at full utilisation rates given the risk of pressurising margins again. The recovery in prompt demand is therefore expected to be slow and steady rather than a brisk...




 
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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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