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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.

Onyx Markets Crude Brent/Dubai Box  (Crude), Time Spread, Europe/Middle East -Commodity CFD

Brent/Dubai Box  (Crude), Time Spread, Europe/Middle East -Commodity CFD

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Name & Trade Code

Contract Name
MT5 Code
Contract Classification
Geographical Region

Contract Specification

Sector
Product Group
Tenor Period
Maximum Forward Tenor
Contract Size
Contract Unit
Trading Price Quote
Price Digits
Currency
Tick Value
Tick Size
Minimum Volume
Volume Steps [Lots]
Settlement
Margins Download a summary or detailed document with tiers.

Expiry Trading Overview

Contract Expiry Date
Last Trading Day (for new open positions)
Last Trading Day (for closing position in that Tenor Period)

Tenor Period Settlement Valuation Process

Open Volume
Daily Settlement Value
Daily Settlement Volume
Final Settlement Price

The Brent/Dubai Box contract is a sophisticated commodity CFD (Contract for Difference) in the Crude group that represents the time spread between Brent 1st Line and Dubai 1st Line crude oil futures for two consecutive months.

Contract Purpose

This time spread contract allows market participants to:

  • Speculate on or hedge against changes in the price relationship between Brent and Dubai crude oil over two consecutive months
  • Manage exposure to regional price differentials between European and Middle Eastern crude oil markets
  • Execute complex calendar spread trading strategies across two major crude oil benchmarks

Market Significance

  • Intercontinental Arbitrage: Reflects opportunities for crude oil trading between Europe and the Middle East
  • Refinery Economics: Captures the changing value proposition for refineries processing different crude grades
  • Global Oil Flows: Provides insights into the dynamics of crude oil trade between Atlantic Basin and East of Suez markets

Trading Benefits

  • Cross-Benchmark Exposure: Allows traders to focus on relative price movements between two major global crude oil benchmarks
  • Spread Risk Management: Provides a tool for managing price risks across different crude oil grades and regions
  • Complex Strategies: Enables sophisticated trading approaches that combine both time spread and inter-grade spread elements

This contract is particularly valuable for refineries, trading houses, and financial institutions active in both the European and Middle Eastern crude oil markets. It offers a powerful tool for managing complex price risks and implementing advanced trading strategies that account for both temporal and geographical price differentials in the global crude oil market.