Crude Oil Methodology
❤️ Click here: Brent dated crude oil price
In December 2005 the global demand for crude oil was 83. This page provides - Brent crude oil - actual values, historical data, forecast, chart, statistics, economic calendar and news. In 2007, we added Ekofisk crude into our physical Brent assessment process, completing what is now known as BFOE.
The index represents the average price of trading in the 25-day Brent Blend, Forties, Oseberg, Ekofisk BFOE market in the relevant delivery month as reported and confirmed by the industry media. Platts Dated Brent is a benchmark assessment of the price of physical, light North Sea crude oil. Retrieved 23 March 2018.
Crude Oil Methodology - Delivery dates In addition to the , Brent crude financial futures are also traded on the , with the symbol BZ, and have expiry dates in all 12 months of the year. In the same year, we widened the date range reflected in our assessments to 10-21 days forward, in order to better reflect the more forward-looking trading patterns of the North Sea crude market and increase potentially deliverable volumes.
You are a premium subscriber, we are unable to send you your password for security reasons. Platts Dated Brent is a benchmark assessment of the price of physical, light North Sea crude oil. Each dated cargo of crude oil is often traded more than once as it makes its way to delivery to refineries -- where crude is transformed into products like gasoline, diesel, jet fuel, and more. Our analysis of trading activity culminates in the publication of the Platts Dated Brent benchmark --our daily assessment of the price of Dated Brent in the North Sea crude marketplace. Dated Brent is a critical component of the Brent Complex, which includes the trading of physically delivered oil like Dated Brent and cash BFOE Brent-Forties-Oseberg-Ekofisk , as well as financially settled derivatives like Brent Futures, Contracts for Differences CfDs , Dated-to-Frontlines DFLs and a variety of other derivatives. Taken as a whole, the Brent Complex helps those active in the North Sea crude market to manage the flow of crude oil from well-head to refinery, and manage price risk along the way - not just in crude oil, but also for correlated refined oil products, natural gas, gas liquids and condensates. Price indicators from the Brent Complex are increasingly used as a reference for measuring the value of crude oils all around the world, and often of global economic health itself. We assess the price for dated crude streams in the North Sea - Brent Ninian Blend from which Dated Brent takes its name , Forties Blend, Oseberg and Ekofisk. Taken together, these four crudes represent a robust supply of approximately 1 million oil barrels per day of production. The most competitive grade of crude defines the final printed price of our Dated Brent assessment each day. Our Dated Brent price assessment reflects the tradable, repeatable spot market value of the most competitive grade at 16:30. We publish bids, offers, expressions of interest to trade, and confirmed trades during our Market on Close assessment process every day. This information is summarised in our daily newsletters and is published in full on our real-time information service, Platts Global Alert. We began assessing Dated Brent in the 1980s, reflecting the value of crude to be delivered between seven and 15 days after the date the price assessment was published. As production volumes of the Brent field decreased, we included other crude oils into our Dated Brent assessment. Trading has trended further forward in time, and over the years we have moved our assessment periods to keep pace with this trend. In 2002, we added two more crude grades to our physical Brent assessment process -- Forties and Oseberg. In the same year, we widened the date range reflected in our assessments to 10-21 days forward, in order to better reflect the more forward-looking trading patterns of the North Sea crude market and increase potentially deliverable volumes. In 2007, we added Ekofisk crude into our physical Brent assessment process, completing what is now known as BFOE. In 2012, we again widened our assessed delivery period window, this time to 10-25 days forward, increasing the volume deliverable into the assessment window by more than 30%. In 2015, we widened our assessed delivery period window further, this time to reflect 10 days to a full month-ahead forward, again increasing the volume deliverable into the assessment window by more than a further 30%. Working with all stakeholders, we are constantly planning for more change to come as the market continues to evolve. We regularly hold methodology forums, technical workshops, webinars and one-to-one meetings to exchange views on the future of Brent. Platts Dated Brent is a benchmark assessment of the price of physical, light North Sea crude oil. Each dated cargo of crude oil is often traded more than once as it makes its way to delivery to refineries -- where crude is transformed into products like gasoline, diesel, jet fuel, and more. Our analysis of trading activity culminates in the publication of the Platts Dated Brent benchmark --our daily assessment of the price of Dated Brent in the North Sea crude marketplace. Dated Brent is a critical component of the Brent Complex, which includes the trading of physically delivered oil like Dated Brent and cash BFOE Brent-Forties-Oseberg-Ekofisk , as well as financially settled derivatives like Brent Futures, Contracts for Differences CfDs , Dated-to-Frontlines DFLs and a variety of other derivatives. Taken as a whole, the Brent Complex helps those active in the North Sea crude market to manage the flow of crude oil from well-head to refinery, and manage price risk along the way - not just in crude oil, but also for correlated refined oil products, natural gas, gas liquids and condensates. Price indicators from the Brent Complex are increasingly used as a reference for measuring the value of crude oils all around the world, and often of global economic health itself. Taken together, these four crudes represent a robust supply of approximately 1 million oil barrels per day of production. The most competitive grade of crude defines the final printed price of our Dated Brent assessment each day. Our Dated Brent price assessment reflects the tradable, repeatable spot market value of the most competitive grade at 16:30. We publish bids, offers, expressions of interest to trade, and confirmed trades during our Market on Close assessment process every day. This information is summarised in our daily newsletters and is published in full on our real-time information service, Platts Global Alert. As production volumes of the Brent field decreased, we included other crude oils into our Dated Brent assessment. Trading has trended further forward in time, and over the years we have moved our assessment periods to keep pace with this trend. In 2002, we added two more crude grades to our physical Brent assessment process -- Forties and Oseberg. In the same year, we widened the date range reflected in our assessments to 10-21 days forward, in order to better reflect the more forward-looking trading patterns of the North Sea crude market and increase potentially deliverable volumes. In 2007, we added Ekofisk crude into our physical Brent assessment process, completing what is now known as BFOE. In 2012, we again widened our assessed delivery period window, this time to 10-25 days forward, increasing the volume deliverable into the assessment window by more than 30%. In 2015, we widened our assessed delivery period window further, this time to reflect 10 days to a full month-ahead forward, again increasing the volume deliverable into the assessment window by more than a further 30%. Working with all stakeholders, we are constantly planning for more change to come as the market continues to evolve. We regularly hold methodology forums, technical workshops, webinars and one-to-one meetings to exchange views on the future of Brent.
Navigating market volatility amid earnings and crude oil prices
As production volumes of the Brent field decreased, we included other crude oils into our Dated Brent assessment. Actual Chg %Chg 1. This grade is described as light because of its relatively low density, and sweet because of its low sulphur content. The most competitive grade of crude defines the final printed price of our Dated Brent assessment each day. In December 2005 the global demand for crude oil was 83. In 2007, we met Ekofisk crude into our physical Brent assessment process, completing what is now known as BFOE. One contract equals 1,000 159 m 3. Price indicators from the Brent Complex are increasingly used as a reference for measuring the value of crude oils all around the world, and often of solo economic health itself. We regularly hold methodology forums, technical workshops, webinars and one-to-one meetings to exchange views brent dated crude oil price the future of Brent. On an international level there are a number of different types of crude oil, each of which have different properties and prices. In 2015, we widened our met delivery period window further, this time to reflect 10 days to a full month-ahead forward, again increasing the volume deliverable into the assessment window by more than a further 30%. The Brent prices displayed in Trading Economics are based on over-the-counter OTC and contract for difference CFD financial instruments.
