Blog

What is LCOC1?

What is LCOC1?

LCOC1: ICE Brent Crude Energy Future c1 – Stock Price, Quote and News – CNBC.

What is the ICE Brent Index?

The ICE Brent Index represents the average price of trading in the prevailing North Sea ‘cash’ or forward market in the relevant delivery month as reported and confirmed by industry media. Only published full cargo size (currently 600,000 barrels) trades and assessments are taken into consideration in the calculation.

What are Brent crude futures?

The ICE Brent Crude futures contract is a physically deliverable contract with an option to cash settle against the ICE Brent Index price, which is calculated the day after the last trading day of the futures contract.

Where is Brent crude from?

North Sea
Brent blend is a blend of crude oil extracted from oilfields in the North Sea between the United Kingdom and Norway. It is an industry standard because it is “light,” meaning not overly dense, and “sweet,” meaning it’s low in sulfur content.

READ ALSO:   What does religious fundamentalism look like?

What is EFP delivery?

The Exchange of Futures for Physical (EFP) is an alternative mechanism that is used to price physical crude oil. I An EFP is one avenue of achieving physical delivery which means that traders can take delivery of WTI as they do on other exchanges where WTI is traded on a physical basis.

What is the difference between WTI and Brent?

Brent is oil that is drilled out of the North Sea adjoining the UK and Norway while WTI Crude is extracted in the US. Predominantly, US oil is concentrated in Texas, North Dakota and New Mexico. The US uses West Texas Intermediate (WTI) as the benchmark.

Why Brent is higher than WTI?

Why is Brent crude more expensive than WTI? Simply put, the preference for Brent crude today stems from the fact that it may be a better indicator of global oil prices. Brent essentially draws its oil from more than a dozen oil fields located in the North Sea.

READ ALSO:   Is it OK to use expired noodles?

Why is it called Dated Brent?

The term “Dated Brent” refers to physical cargoes of crude oil in the North Sea that have been assigned specific delivery dates. 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.