UK Brent Oil Futures

Brent Oil Futures Live Chart

Brent Oil Technical Analysis

About Brent Oil Futures

Brent Oil is a sweet, light crude oil (LCO). It is used for benchmarking the prices of nearly 60% of the crude oils traded worldwide. Brent Oil futures are financial products used by producers and marketers to manage the risk of price fluctuations in the Brent oil market. A Brent future is a consistent contract that is traded on an exchange between two parties. The buyer of the contract agrees to accept delivery of a specified quantity of Brent oil from a seller at a predetermined price on a future date.

Brent Oil Trading

Until 2005 Brent Crude oil traded on the International Petroleum Exchange in London on an open cry system. Since 2005, Brent Crude futures have traded electronically on the Intercontinental Exchange (ICE) in Europe under the symbol “B”. The ICE Brent futures are based on the underlying physical BFOE market. Brent futures have the highest daily output of any of the world’s oil benchmarks. A typical contract is for 1000 barrels and is quoted in U.S. dollars. A contract is a deliverable contract, with a cash option. The NYMEX and ICE futures markets are linked and traders can hedge a position in one of the markets by using the other.

How to Trade Brent Futures?

You can trade futures by opening a trading account with a trusted broker who handles futures trading. Starsupply Commodity Brokers, CME Globex, CME Clear Port and Etrade are some well-known online platforms for trading futures. Most brokerages will charge the National Futures Association fees, which is roughly around $0.02 per side, along with a commission (which can range from $0.025 to $3 and more, per contract per side). You will also have to pay an exchange fee, which will vary depending on the exchange and the specific contract you are trading. Be sure to look at the fine print and add up all the fees for your cost.