ICE Brent Crude Oil

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Brent Crude is a hybrid of multiple crude varieties produced from the North Sea and represents a major benchmark for light, sweet crude oil. In 2016, 210.5 million contracts were traded.[1]

ICE Brent Crude Oil futures
Exchange ICE
Settlement Cash settled
Contract Size 1,000 barrels
Pricing Unit $10
Tick Value $0.01 per barrel ($10 per contract)
Contract Months A maximum of 72 consecutive months are listed. Thereafter, the exchange lists an additional six contracts comprising June and December contracts for a further three years. Twelve additional contract months will be added each year on the expiration of the near December contract month.
Last Trading Day Trading shall cease at the end of the designated settlement period of the business day immediately proceeding the 15th day prior to the first day of the delivery month, if the 15th day is a business day in London. If the 15th day is not a business day, trading shall cease on the next preceding business day.
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A New York: 8:00 PM - 6:00 PM*, 20:00 - 18:00

London: 1:00 AM - 11:00 PM*, 01:00 - 23:00 Singapore: 8:00 AM - 6:00 AM*, 08:00 - 06:00

*=Next Day
Ticker Symbol N/A SC
Price Limits N/A None

Contract Volume

In 2014, the volume of Brent crude futures traded ranked first among all energy futures and options contracts according to the FIA.

Year Total Annual Volume Percent Change
2014 160,425,461 0.8%
2013 159,102,103 --


The contract is a deliverable contract based on EFP delivery with an option to cash settle against the published settlement price.

See Also


  1. FIA 2016 Volume Survey. FIA.

Brent Crude on