Brent crude is a type of oil that is widely traded on the international commodity markets. Trading in Brent crude typically takes place around the clock, as the commodity markets are open for 24 hours a day, 5 days a week.
However, there are certain hours when trading in Brent crude is more active and when traders are more likely to be able to execute trades at their desired prices. These hours correspond to the opening hours of the major commodity exchanges around the world, where Brent crude is traded.
The two main exchanges where Brent crude is traded are the Intercontinental Exchange (ICE) in London, and the Dubai Mercantile Exchange (DME) in Dubai. The ICE is the larger of the two exchanges, and it is the main platform for Brent crude trading.
The ICE opens for trading at 12:00 AM GMT (Greenwich Mean Time), which is also known as 12:00 AM London time. This is the start of the main trading session for Brent crude on the ICE, and it typically sees the highest trading volume and volatility. The trading session runs until 10:00 PM GMT, when the ICE closes for the day.
The DME, on the other hand, is located in Dubai, which is in the Gulf Standard Time (GST) time zone. The DME opens for trading at 9:00 AM GST, which corresponds to 5:00 AM GMT. Trading in Brent crude on the DME tends to be less active than on the ICE, but it is still an important platform for trading in the Middle East.
It’s important to note that the hours of Brent crude trading may be subject to change during holidays and other market disruptions. Traders should always check with their brokers or the relevant exchanges to confirm the exact trading hours for Brent crude.
In conclusion, trading in Brent crude takes place around the clock, but the main trading hours are during the opening hours of the ICE in London and the DME in Dubai. These exchanges open at different times due to the time zone differences, so traders should be aware of the relevant time zone when planning their trades.