November Brent crude futures stood $7.47 a barrel above the December contract in ICE’s delayed September 28 snapshot, shortly before November’s September 30 last trading date. The comparison highlights why an oil-price update needs to identify its contract month.
Two maturities, two prices
| ICE Brent contract | Last-trade price | Quote timestamp |
|---|---|---|
| November 2026 | US$105.56 per barrel | September 28, 19:47 GMT |
| December 2026 | US$98.09 per barrel | September 28, 19:47 GMT |
CapKet calculated the $7.47 difference by subtracting the displayed December price from November’s. These are separate outright last-trade observations, not a verified executable spread quote. ICE labels the page’s market data as delayed by a minimum of 15 minutes.
The deadline to watch
ICE’s expiry calendar lists September 30, 2026 as the November contract’s final trading day and October 1 as its final settlement date. December has an October 30 last trading date and November 2 final settlement date. Those are exchange deadlines, not an instruction to place a trade.
The contract specification explains that Brent futures expire before their named contract month. It also distinguishes daily settlement, calculated during a designated two-minute London trading window, from an individual last-trade quote.
How a contract switch can mislead
For this snapshot, calling a move from $105.56 to $98.09 a same-contract fall would be incorrect: it would compare November with December. The figures describe different maturities at the same displayed minute.
For a valid daily-change comparison, keep the maturity and price type consistent. A continuous chart’s rollover method should also be checked before interpreting a sudden step as a new market event. This is a comparison principle, not a claim that a particular chart has made an error.
No cause for the price gap, official September 28 settlement or subsequent price movement is established here. This report is distinct from CapKet’s September 23 fuel-cost transmission report, whose historical observations remain unchanged.
ICE page snapshot: September 28, 2026, 19:57:19 GMT (September 29, 01:27:19 IST). The quoted trades are timestamped 19:47 GMT. Publication date and quote date are different.