The National Stock Exchange (NSE) on May 08, 2023, issued a notification regarding a revision in methodology for existing Brent Crude Oil price assessments by ICIS.
ICIS has issued a methodology consultation note informing that they will start publishing an assessment of the Midlands as part of its North Sea coverage from June 01, 2023. Thus, the Brent Crude Oil assessments will go through a change i.e., to also include Midlands prices in their Brent Crude Oil prices assessments. Accordingly, the assessment term BFOE will become BFOETM (Brent, Forties, Oseberg, Ekofisk, Troll & Midlands) in the existing NSE Brent Crude Oil futures contract specifications.
The revision will be effective from June 01, 2023.
There is no change in the existing trading and settlement mechanism of the Brent Crude Oil futures contracts.
[Notification No. NSE/COM/56645]
