- Trading Screen Product Name
- Heating Oil/Brent Crack
- Trading Hours
GMT Hours* - Open: 01:00 (23:00 on Sundays), Close: 23:00.
EST Hours* - Open: 20:00 (18:00 on Sundays), Close: 18:00 the
following day.
CST Hours* – Open: 19:00 (17:00 on Sundays), Close: 17:00
the following day.
Singapore Hours– Open: 09:00 (07:00 on Mondays), Close:
07:00 the following day.
*An Exchange Circular will be issued in advance of the UK switch
from GMT to BST and a further US switch to and from DST to confirm
the altered market opening and closing times.
- Contract Size
1,000 barrels (42,000 gallons)
- Unit of Trading
Any multiple of 1,000 barrels (42,000 gallons)
- Trading Price Quotation
One cent ($0.01) per barrel
- Settlement Price Quotation
One cent ($0.01) per barrel
- Minimum Price Fluctuation
One cent ($0.01) per barrel
- Last Trading Day
The last trading day for the NYH ULSHO/Permian WTI Futures Crack is
determined by the expiry date for ICE Permian WTI Crude Futures.
- Settlement
Trading the ICE NYH ULSHO/Brent Crack Spread will result in two
separate positions in the underlying futures markets for ICE Brent
and ICE NYH ULSHO. The settlement of each leg will be the
respective settlement prices for both the ICE Brent and ICE NYH
ULSHO Futures contracts as made public by ICE Futures Europe. Upon
expiry of the ICE Brent Futures leg, holders of the NYH ULSHO crack
trade will then be left with a long or short position in the NYH
ULSHO market which will be settled on expiry of the relevant
underlying NYH ULSHO Futures contract.
ICE NYH ULSHO Futures settlement: The contract is physically
delivered at the final settlement price in New York Harbor
ICE Brent Futures settlement: The Brent Crude Future is a
cash-settled contract. The ICE Brent Crude Futures contract is a
deliverable contract based on EFP delivery with an option to cash
settle, i.e the ICE Brent Index price for the day following the
last trading day of the futures contract
The ICE Brent Crude futures contract is a deliverable contract
based on EFP delivery with an option to cash settle against the ICE
Brent Index price for the last trading day of the futures contract.
The Exchange shall publish a cash settlement price (the ICE Brent
Index price) on the next trading day following the last trading day
for the contract month.
- Position Limit
The Exchange may impose position accountability levels or limits on
positions in this contract at its discretion as provided in Rules
P3 and P8 respectively. Exemptions from position limits may be
granted at Exchange discretion for bona fide hedge positions
- Contract Series
Up to 24 consecutive months
- Business Days
ICE Business Days
- MIC Code
- IFEU
- Clearing Venues
- ICEU