ICE Futures Europe, Brent Crude Futures, delayed prices via TradingView
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What does this price show?
The price of Brent crude oil on ICE Futures Europe in London, in US dollars per barrel (1 barrel = 159 litres). It is the figure the news quote as "the price of Brent". No oil is sold on the exchange for today: buyers and sellers agree contracts for a cargo to be delivered in about two months, and the price shows what they agree on right now. The series follows the nearest contract still trading (its delivery month is shown beside the price) and moves to the next one when it expires, on the last business day of the second month before delivery. The price moves all day; here it is updated every 15 minutes on trading days, 10 minutes delayed, and is marked intraday until the day’s close. It differs from EIA’s spot price, which is for a cargo delivered straight away: when the market is short of oil now, the spot price is above the exchange price, and when oil is plentiful it is below. Diesel prices follow Brent.
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