The underlying instrument for UKOIL is Brent Crude which is traded on the ICE Futures Europe. Brent Crude is a major trading classification of sweet light crude oil that serves as a major benchmark price for purchases of oil worldwide. Brent Crude is sourced from the North Sea, and comprises Brent Blend, Forties Blend, Oseberg and Ekofisk crudes (also known as the BFOE Quotation). 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.
Can be viewed in the dealing rates and create order windows on the trading station, or by using the CFD Product Guide.
Trading Hours & Expiration
Please click here for trading hours. Please note, however, that hours are subject to change based on Daylight Savings Time. Any holiday hours will be posted here. Friedberg Direct expiration dates for UKOIL are located in the Friedberg Direct CFD Expiration PDF.
When UKOIL expires, all pending Stop and Limit orders that are associated with the expiring contract will be cancelled. Clients will need to re-establish another position if desired after the expiration and reinsert Stop and Limit orders to the new open position.
UKOIL has a target spread of 5.0 pips/points
Max Contract Size
The maximum number of contracts per click (trade) for UKOIL is 5,000.
Minimum Pip Cost (Value)
UKOil has a minimum value of $0.10 per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value).
The pip/point location is shown below. Each 0.01 price movement on UKOIL is 1 pip/point. Friedberg Direct’s pricing displays an additional decimal place - ideal for scalpers in a fast-moving market.
Number of Friedberg Direct Contracts to Equal 1 Future
100 Friedberg Direct UKOil are currently equivalent to one Brent Crude (ICE) Future.
UKOIL has no financing cost (Rollover).
With Friedberg Direct’s new Enhanced Execution, there is no minimum stop distance for UKOIL.