Brent Crude Oil

Brent Crude Oil Meaning:
In commodity market terminology, Brent Crude Oil is a light sweet crude oil from the North Sea off the coast of England between Norway and Denmark and is a blend of oil from 15 different oil fields. This type of oil is deliverable on futures contracts traded on the electronic Intercontinental Exchange or ICE under the symbol LCO and on the New York Mercantile Exchange NYMEX, under the symbol SC.

Brent Crude Oil Example:
Brent Crude Oil futures are commodity futures contracts for 1,000 barrels a contract and deliverable on the 15th day before the first day of the month traded, and traded every month of the year. The futures are traded by open outcry on the New York Mercantile Exchange and are quoted in U.S. Dollars. The futures are also traded on the CME’s Globex trading platform.