Brent crude futures for July rose by 1.94%

AK&M 25 May 2023 11:02

Brent crude oil futures for July on the Intercontinental Exchange (ICE) at the close of May 24 amounted to $78.36 per barrel (+$1.52, +1.94%). 

Brent crude futures are traded on the Intercontinental Exchange (ICE), which was founded in 2000 for electronic trading in energy markets and to ensure greater transparency of prices.

A Brent crude futures contract is a delivery contract based on the delivery of an EFP (exchange of futures for a physical commodity) with a cash settlement option.

The minimum contract is accepted for 1 thousand barrels. The trade is conducted in US dollars in any volumes that are multiples of 1 thousand barrels. ICE Clear Europe acts as the central counterparty for transactions conducted on the London stock exchanges. This allows him to guarantee the financial performance of each contract, up to delivery, execution and/or settlement.