Brent Crude oil, renowned for its quality and versatility, is a pivotal force in driving the engines of commerce across the globe. As a primary benchmark for international oil prices, Brent Crude is not only widely traded but also serves as a compass for energy costs, influencing industries, businesses, and consumers.
In this article, we dive into the latest ICE Futures Brent Crude Oil investing news and prices.
What is Brent Crude vs Crude Oil?
Brent Crude and Crude Oil (often represented by West Texas Intermediate or WTI) are both types of crude oil used as global benchmarks for setting oil prices, with Brent originating from the North Sea and WTI from the United States.
They differ in factors such as geographic source, sulfur content, price differentials, and refining uses, yet both play crucial roles in the global energy market.
Trading Brent Crude Oil Futures
Traders can access Brent Crude Futures from the Intercontinental Exchange (ICE) through Orient Futures International Singapore. Both ICE Futures Europe (IPE) and ICE Futures Singapore (ICE Singapore) offer Brent Crude Futures.
IPE provides a range of Brent Crude Futures products, including ICE Brent Crude Futures and Brent Crude Options, Brent Crude TAS Futures, and Crude Outright – Brent 1st Line Futures.
ICE Singapore offers a smaller contract for Brent Crude, known as Mini Brent Crude Futures (100BBL).
In addition to ICE, traders can also access NYMEX Brent Crude Oil Futures (New York Mercantile Exchange) through Orient Futures International Singapore.
ICE Futures Europe Brent Crude Futures Contract Specifications
The IPE Brent Crude Futures Contract has the following specifications:
The Futures Contract has a minimum price fluctuation of $0.01 per barrel.
Contract series are up to 96 consecutive months.
The last trading day of the contract month is on the last business day of the second month preceding the relevant contract month.
ICE Exchange Trading hours are 8:00am – 6:00am (Singapore time)
IPE Brent Crude Oil Futures symbol: B
Brent Crude Oil News
Brent Crude Oil Supply and Demand
According to Orient Futures' Weekly Updates on the Fundamental Data of Energy Products dated 20231008, a decline in market risk appetite and poor demand outlooks led to a selloff in crude oil.
The underperformance of EIA's US weekly gasoline demand data and market expectations of a rate hike by the Federal Reserve have raised concerns about future demand prospects. The previous quarterly report maintains the view that short-term oil price risks will primarily stem from market expectations that an extension of restrictive interest rates will intensify the negative impact on the economic outlook.
Saudi Arabia and Russia have reiterated their voluntary production cuts this year, but there is limited room for further tightening of supply in the fourth quarter. If market expectations for the economic outlook further deteriorate, the risk of downward pressure on oil prices will increase.
Find out more about OPEC+ and Their Impact on Crude Oil Prices.
Brent Crude Oil Futures Price
Figure 1. Brent Crude Oil Futures Price Chart from ICE Futures Europe
According to Trading Economics, Brent Crude Futures stabilized around $88 per barrel on Wednesday as concerns about potential supply disruptions in the Middle East due to the Israel-Hamas conflict began to diminish. Find out the latest Brent Crude Oil Futures price live on ICE Website.
Start Trading With Orient Futures Singapore
Being an Overseas Intermediary of Shanghai International Energy Exchange (INE), Dalian Commodity Exchange (DCE), and Zhengzhou Commodity Exchange (ZCE), when foreign clients participate in internationalised futures contracts in these Chinese markets with us, they have direct access to trading, clearing, and settlement. Our parent company, Shanghai Orient Futures, is the largest broker in terms of aggregated volume across the five regulated exchanges in China.
Orient Futures Singapore also currently holds memberships at the Singapore Exchange (SGX), Asia Pacific Exchange (APEX), and ICE Futures Singapore (ICE SG). Starting August 2023, corporate clients can also gain access to the B3 Exchange through us.
We provide bespoke services to our professional clients, tailored to their corporate and individual needs. Our team will be there for you 24 hours on trading days to provide a one-stop portal for all your trades, with simple processes and an intuitive user interface that has low or near-to-zero latency.
