Fuel Oil Crack - Marine Fuel 0.5% FOB USGC Barges (Platts) vs Brent Crude 1st Line Futures71544058
ICE Futures U.S.

Fuel Oil Crack - Marine Fuel 0.5% FOB USGC Barges (Platts) vs Brent Crude 1st Line Futures

Description

A monthly cash settled future based on the Platts daily assessment price for 0.5% FOB US Gulf Coast Barges Marine Fuel and the ICE settlement price for Brent 1st Line Future

Market Specifications

Trading Screen Product Name
Fuel Oil Crack Futures
Trading Screen Hub Name
Marine 0.5% FOB USGC Bg (Platts)/Brent 1st Line
Contract Symbol
FOQ
Contract Size
1,000 barrels
Unit of Trading
Any multiple of 1,000 barrels
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 ($0.001) per barrel
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement
In respect of final settlement, the Floating Price will be a price in USD and cents per barrel based on the difference between the average of the “$/barrel” quotations appearing in the “Platts US Marketscan” under the heading “Marine Fuel” for “0.5% FOB US Gulf Coast barge" and the average of the settlement prices as made public by ICE for the front month Brent Future for each business day (as specified below) in the determination period.
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
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for Platts US Marketscan and ICE
MIC Code
IFED
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
00:40
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM
07:40

*Next Day

Sunday Pre-Open 5:10 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Am Cracks bbl
Physical
FOQ
Logical
FOQ
GMI (FC)
NR
Symbol Code
FOQ