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Brent Crude Oil Futures |
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WIKI ANALYSIS
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This article describes a futures contract with a discrete termination or delivery date. View articles referencing this futures contract. |
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, 2009 | SCF9 | SC/F9-NM |
| February, 2009 | SCG9 | SC/G9-NM |
| March, 2009 | SCH9 | SC/H9-NM |
| April, 2009 | SCJ9 | SC/J9-NM |
| May, 2009 | SCK9 | SC/K9-NM |
| June, 2009 | SCM9 | SC/M9-NM |
| July, 2009 | SCN9 | SC/N9-NM |
| August, 2009 | SCQ9 | SC/Q9-NM |
| September, 2009 | SCU9 | SC/U9-NM |
| October, 2009 | SCV9 | SC/V9-NM |
| November, 2009 | SCX9 | SC/X9-NM |
| December, 2009 | SCZ9 | SC/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
- ↑ 1.0 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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