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Brent Crude Oil Futures Contract Specs

Contract Unit 1,000 barrels
Price Quotation U.S. dollars and cents per barrel
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)

TAS: Sunday - Friday 6:00 p.m. - 2:30 p.m. (5:00 p.m. - 1:30 p.m. CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation 0.01 per barrel = $10.00

TAS: Zero or +/- 10 ticks in the minimum tick increment of the outright
Product Code CME Globex: BB
CME ClearPort: BB
Clearing: BB
TAS: BBT
Listed Contracts Monthly contracts are listed for the current year and the next 7 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Settlement Method Financially Settled
Floating Price The Floating Price is equal to the Brent Crude Oil (ICE) Futures 1st nearby contract settlement price on the penultimate trading day for the delivery month.
Termination Of Trading Trading in the February contract month terminates on the 3rd last London and U.S. business day of the month, 2 months prior to the contract month. Trading in all other contract months terminates on the 2nd last London and U.S. business day of the month, 2 months prior to the contract month.
Trade At Marker Or Trade At Settlement Rules Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a "Base Price" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price.

TAS Table
Settlement Procedures Brent Crude Oil Futures Settlement Procedures
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 692
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing