The ICE Brent Index is recognized as a commodity benchmark under the UK Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019.
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 700,000 barrels) trades and assessments are taken into consideration in the calculation. The ICE Brent Index is published by ICE Futures Europe on the day after expiry of the front month ICE Brent futures contract and used by the Exchange as the final cash settlement price.
The ICE Brent Index is published on the ICE Report Centre for information. It is used by ICE Futures Europe on expiry of the front month futures contract as the final cash settlement price.