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      Course Overview

      Introduction to Natural Gas

      • Natural Gas Overview
      • Natural Gas product overview
      • Understanding Henry Hub
      • Understanding Supply and Demand: Natural Gas
      • Introduction to Natural Gas Seasonality
      • Understanding Natural Gas Risk Management Spreads & Storage
      • Natural Gas Calendar Spread Options
      • GUlf Coast LNG Export futures product Overview

      Introduction to Crude Oil

      • Discover WTI: A Global Benchmark
      • WTI product overview
      • Understanding Crude Oil in the United States
      • The Importance of Cushing, Oklahoma
      • Crude Oil Auction
      • WTI Houston Futures (HCL) Dock Allocation
      • Introduction to European Crude Oil
      • Brent Crude Product Overview
      • Learn about Crude Oil Across Asia Region
      • Understanding Commodity Storage
      • Crude Oil: Futures versus ETFs

      Introduction to Power

      • Understanding Basics of the Power Market    
      • Energy Market and Risk Management with Options
      • Managing Risk in the Capacity Market

      Introduction to Refined Products

      • A Look into the Refining Process
      • RBOB Product Overview
      • Heat Oil Product Overview
      • Learn about the 1:1 Crack Spread
      Introduction to Energy
      You completed this course.Get Completion Certificate

      Brent Crude Product Overview

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      About Brent Crude

      Brent Crude Oil (BZ) futures at CME Group help investors gain exposure to the global oil market. Like the price of WTI crude oil, Brent’s price is a major benchmark for the purchase of oil worldwide.

      Brent and WTI are both light crude oils favored by refineries. Similarly, both blends of oil are sweet and comparatively free of impurities. The Brent crude oil is a basket of North Sea crude oil streams, which includes Brent, Forties, Oseberg, Ekofisk, and Troll (BFOET).

      The Contract

      Each NYMEX Brent Crude Oil futures contract represents 1,000 barrels of Brent crude oil, with a minimum tick price of $.01. The contract is financially settled. The contract trades electronically six days a week, 23-hours-per-day, and with a daily 60-minute break at 4 p.m. Central Time (CT). Traders can leverage substantial margin efficiencies while gaining exposure to this liquid market.

      Trading the Market

      Investors keep a close eye on the price movement of Brent because it is considered to be more reflective of the oil demand in Europe and Asia.

      Traders have recently paid attention to Brent due to China’s rapid growth and industrialization and its eventual ascension to the world’s largest economy.

      As with WTI and other energy sources, the price of Brent often moves in partner with the broad economy and market.  Because Brent’s price signifies oil demand, movements in crude can signal the direction of the economy.

      Traders also keep a close eye on the spread between WTI and Brent. Though this spread always exists due to differences in transportation costs, it can also be used to gauge demand strength in different parts of the world as well as supply availability.


      Learn more about CME Group’s Energy markets.


      Test your knowledge

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      CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
      Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

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