Brent Crude Oil vs. Dubai Crude Oil (Platts) Futures - Contract Specs
| Contract Unit | 1,000 barrels |
|---|---|
| Price Quotation | U.S. dollars and cents per barrel |
| Trading Hours | Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) |
| Minimum Price Fluctuation | $0.001 per barrel = $1.00 |
| Product Code | CME Globex: ADB CME ClearPort: DB Clearing: DB |
| Listed Contracts | Contracts listed for the current year and the next 5 years. |
| Settlement Method | Financially Settled |
| Floating Price | (A)The Floating Price for each contract month is the arithmetic average of the Brent Crude Oil (ICE) Futures first nearby contract settlement price minus the mid-point between the high and low quotations from Platts Crude Oil Marketwire for the Dubai front month price for each business day during the contract month (using Non-common pricing), except as noted in (B) below. B) The settlement price of the first nearby contract month will be used except on the last day of trading for the expiring Brent Crude Oil Last Day Financial Futures contract when the settlement price of the second nearby Brent Futures contract will be used. |
| Termination of Trading | Trading terminates on the last London and Singapore business day of the contract month. |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
