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Brent Crude Oil


Crude Oil Derivatives (Brent and WTI) are the highest traded product in the Commodities market space.

NSE has successfully launched Brent Crude Oil Futures on 1st March 2019 with two variants: Mini 10 barrels and Regular 100 barrels.

Crude Oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. A type of fossil fuel, crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a non-renewable resource, which means that it can't be replaced naturally at the rate we consume it and is, therefore, a limited resource.

Brent Crude is a major trading classification of sweet light crude oil that serves as a benchmark price for purchases of oil worldwide. This grade is described as light because of its relatively low density, and sweet because of its low sulphur content. Brent Crude is extracted from the North Sea and comprises Brent, Forties, Oseberg and Ekofisk crudes (BFOE Quotation).

Brent is the leading global price benchmark for Atlantic basin crude oils. It is used to price two-thirds of the world's internationally traded crude oil supplies.

India is 3rd largest consumer of crude oil in the world, after the United States and China.

Factors affecting Market fundamentals

  • US Crude Inventories
  • Economic factors: Recession, Inflation & Crisis
  • Speculation, Hedging & Investment
  • Geopolitical actions
  • Weather
  • OPEC & Non-OPEC Decisions & Broadcasts
  • Global Economic Growth & Trade Policies

Crude used in following Industries

  • Oil Marketing/Refining Companies    
  • Glass Manufacturers
  • Transport / Aviation    
  • Lubricants
  • Petro-Chemical industry    
  • FMCG
  • Industrial Power    
  • Paint Manufacturers
  • Plastics Industry    
  • Rubber / Tyre Manufacturers

Industry Exposure

NSE Brent Crude Oil Specifications

BRENT CRUDE Regular Mini
LOT SIZE 100 Barrel 10 Barrel
SYMBOL BRCRUDE BRCRUDEM
TICK SIZE / QUOTATION ₹ Per 1 Barrel
CONTRACT CYCLE Monthly contracts
EXPIRY Last business day of the contract expiry month
SETTLEMENT Cash Settled
DUE DATE RATE(DDR) / FINAL SETTLEMENT PRICE (FSP)
  • Due date rate (FSP) shall be the settlement price, in Indian rupees, as arrived at from the average of the five intra--month cash BFOE (Brent-Forties-Oseberg-Ekofisk) assessments' as made by ICIS on the last trading day of the NSE Brent Crude Oil Contract.
  • The last available RBI USDINR reference rate will be used for the conversion.
  • The price so arrived will be rounded off to the nearest tick.

 

Updated on: 21/01/2020 12:00
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