$83.54
-0.0500[-0.06%]
as of 2024-05-07
What is a Brent Crude oil future?
A Brent Crude futures contract involves the delivery of Brent Crude oil (harvested in the North Sea off the shore of Britain) at a certain price on a certain date.
How many barrels of oil are in a Brent Crude futures contract?
Generally, 1,000 barrels of oil are included in a Brent Crude oil futures contract.
How are oil futures calculated?
Oil futures are calculated by taking the price of a barrel of that particular oil and multiplying it by the size of the contract. Therefore, a contract with 1,000 barrels at $50 per barrel is worth $50,000.