Ice bows to pressure on Brent contract changes

Oil barrels

Atlanta-based Ice is delaying its plan to shift the expiry calendar for Brent futures and options, following an outcry from market participants who say they need more time to prepare for the change. The plan will be implemented on December 6, not November 7 as initially planned, the exchange said in a circular on October 17.

Ice's plan is designed to fix a divergence between the Brent futures expiry calendar and the underlying physical calendar that has crept into the market over the past decade