HOW DO BRENT OIL FUTURES WORK? * Brent oil futures are indirectly linked to the physicaloil market, specifically the oil pumped out of the depths of theNorth Sea. * If a market participant holds the contract to expiry, ICEuses the ICE Brent Index as the final cash settlement price. * The Index is published by ICE on the day after expiry.WHATIS THE ICE BRENT INDEX? * The Index represents the average price of trading in theNorth Sea forward market, also known as the cash market, in therelevant delivery month on expiry day.

Source: International New York Times April 29, 2020 18:11 UTC