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Naphtha Crack - Naphtha C+F Japan (Platts) vs Brent 1st Line Future (in Bbls)65898862
ICE Futures Europe

Naphtha Crack - Naphtha C+F Japan (Platts) vs Brent 1st Line Future (in Bbls)


A monthly cash settled future based on the difference between the Platts daily assessment price for Naphtha C+F Japan and the ICE settlement price for Brent 1st Line Future (in bbls).

Market Specifications

Trading Screen Product Name
Naphtha Crack Futures (bbl)
Trading Screen Hub Name
Naphtha C&F Japan (Platts)/Brent 1st Line
Contract Symbol
Contract Size
1,000 barrels
Unit of Trading
Any multiple of 1,000 barrels
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per barrel
Settlement Price Quotation
One tenth of one cent ($0.001) per barrel
Minimum Price Fluctuation
One tenth of one cent ($0.001) per barrel
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the “Mid” quotations appearing in the “Platts Asia-Pacific/Arab Gulf Marketscan” under the heading “Asia Products” subheading “Japan physical oil assessments” and “C+F Japan ($/mt)” for “Naphtha” and the average of the settlement prices as made public by ICE for the front month Brent Crude Future for each business day (as specified below) in the determination period.

Non-Common Pricing applies

conversion factor: 1 metric tonne = 8.90 barrels
Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent Futures specified in the Floating Price terms above will be used except for the expiration date of the commodity's underlying delivery month's futures contract. On such date, the applicable pricing quotation will be rolled to the following month's futures contract.
Contract Series
Up to 48 consecutive months
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for Platts Asia Pacific/Arab Gulf Marketscan and ICE
MIC Code
Clearing Venues

Trading Hours

New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM

*Next Day

Sunday Pre-Open 5:10 PM ET; Closed on Saturday


Clearing Admin Name
Cracks bbl
Symbol Code