Brent Crude - Brent Index

Brent Index

The Brent Index is the cash settlement price for the IntercontinentalExchange (ICE) Brent Future based on ICE Futures Brent index at expiry.

The index represents the average price of trading in the 21 day Brent Blend, Forties, Oseberg, Ekofisk (BFOE) market in the relevant delivery month as reported and confirmed by the industry media. Only published cargo size (600,000 barrels (95,000 m3)) trades and assessments are taken into consideration.

The index is calculated as an average of the following elements:

1. A weighted average of first month cargo trades in the 21-day BFOE market.

2. A weighted average of second month cargo trades in the 21 day BFOE market plus or minus a straight average of the spread trades between the first and second months.

3. A straight average of designated assessments published in media reports.