1. Brent crude oil, Brent oil in English, produced in Brent area of North Atlantic. Futures trading on the London Intercontinental Exchange and the New York Mercantile Exchange is the benchmark of market oil price.
The price difference between West Texas Light Crude Oil (WTI) in the US market and Brent crude oil in the North Sea is still very large.
On April 20, 2020, the price of London Brent crude oil futures for June delivery fell by $2.565438 +0 to close at $25.57 per barrel, a decrease of 8.94%.
2. Brent is a light and low-sulfur crude oil, which is produced in Brent and Nizhnan oil fields in the North Sea and widely traded in futures, OTC swaps, forwards and spot spot markets. At present, more than 65% of the world's physical crude oil is linked to Brent system pricing. The loading port of Brent crude oil is Sullom Voe in shetland islands, Beihai. The main users are refineries located in northwest Europe and the east coast of the United States. Last trading day: If 15, the first day of the delivery month, is a banking day in London, the trading shall be stopped at the close of that day. If the day falls on a non-banking day in London (including Saturday), the trading will be stopped on the working day before that day and announced by the Exchange.
Three. Delivery date: ICE Brent crude oil futures contract is a deliverable contract (by converting futures into spot), or it can be settled in cash according to Brent index price on the day after the last trading day. If cash delivery is required, it must be notified to the Exchange within one hour after the transaction stops (the same as the clearing house procedure), and the settlement shall be made through LCH within two working days after the transaction stops.