The Global Crude Oil Benchmark


Brent is the price barometer for up to two-thirds of global crude, with broad accessibility as a waterborne supply easily transported around the world.

By working closely with market participants to ensure their access to effective hedging mechanisms, ICE established Brent as the world’s largest oil futures contract. As a result, the Brent complex has expanded to include more than 500 related hedging instruments since the contract launched over 25 years ago, with many contracts clearable ahead of regulatory mandates.

The ICE Brent crude future is based on a basket of North Sea crudes and has continuously evolved to incorporate new grades, ensuring its ongoing relevance.

The Brent Story

ICE is home to the Brent futures contract, which marks its 30th anniversary this year. We transformed global oil markets with electronic trading, and have since expanded our oil complex to more than 500 related contracts, as we work with customers to shape tomorrow's oil markets.

Brent Index

As part of our stewardship role for the Brent oil complex, ICE Futures Europe is the benchmark administrator for the Brent Index. We provide transparent, reliable insight into the Brent benchmark to help market participants make informed decisions.

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Margin Offsets

 
  • Margin offsets between Brent and Dubai of up to 96% offer the most efficient way to cover East/West pricing exposure
  • Up to 97% in initial margin savings when you trade Brent/WTI spreads on ICE
  • Savings of nearly 90% in initial margin costs when you keep your Arb options and underlying hedge with ICE
  • Margin offsets across the entire oil product range
  • Additional margin offsets against non-oil contracts including coal, gas, power, emissions and freight
  • A reduced fee structure for contracts held to expiry
  • A selection of ICE Brent cracks across the barrel to help you cover your refining margin exposure
  • A comprehensive list of FFAs to help you cover freight exposure while receiving margin offsets against your crude positions
  • Around-the-clock-help for entering direct counterparty deals

ICE Brent Crude Oil

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