Fuel Oil Crack - Fuel Oil 1% FOB NWE Cargoes vs Brent 1st Line Future6753289
ICE Futures Europe
Fuel Oil Crack - Fuel Oil 1% FOB NWE Cargoes vs Brent 1st Line Future
Description
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Market Specifications
- Trading Screen Product Name
- Fuel Oil Crack Futures
- Trading Screen Hub Name
- 1% FOB NWE Cg/Brent 1st Line
- Contract Symbol
- FVB
- Contract Size
- 1,000 metric tonnes (6,350 BBLS)
- Unit of Trading
- Any multiple of 1,000 metric tonnes
- Currency
- US Dollars and cents
- Trading Price Quotation
- One cent ($0.01) per barrel
- Settlement Price Quotation
- One tenth of one cent ($0.001) per barrel
- Minimum Price Fluctuation
- One tenth of one cent ($0.001) per barrel
- Last Trading Day
- Last Trading Day of the contract month
- Floating Price
- In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
- Final Settlement
- In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the mean of the high and low quotations appearing in the "Platts European Marketscan" under the heading "Northwest Europe cargoes" subheading "FOB NWE" for "Fuel oil 1.0%" and the average of the settlement prices as made public by ICE for the front month Brent 1st Line Swap Future for each Business Day in the determination period. Conversion factor: 1 metric tonne = 6.35 barrels.
- Roll Adjust Provision
- In order to use the correct Floating Price quotations, the nearby month quotation for ICE Brent Futures specified in the Floating Price terms above will be used except for the expiration date of the commodity's underlying delivery month's futures contract. On such date, the applicable pricing quotation will be rolled to the following month's futures contract.
- Contract Series
- Up to 60 consecutive months
- Final Payment Date
- One Business Day following the Last Trading Day
- Business Days
- UK Business Days
- MIC Code
- IFEU
- Clearing Venues
- ICEU
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 7:50 PM - 6:00 PM* 19:50 - 18:00 | 7:40 PM 19:40 |
| LONDON | 12:50 AM - 11:00 PM 00:50 - 23:00 | 12:40 AM 00:40 |
| SINGAPORE | 8:50 AM - 7:00 AM* 08:50 - 07:00 | 8:40 AM 08:40 |
Sunday Pre-Open 5:10 PM ET; Closed on Saturday
Codes
- Clearing Admin Name
- Cracks mt
- Physical
- FVB
- Logical
- FVB
- GMI (FC)
- FV
- ION A.C.N.
- SF44
- Symbol Code
- FVB