CoachDated Brent is the price-reporting agency’s daily assessment of physical North Sea cargoes with loading dates already fixed in the coming weeks, set by the most competitive of a basket of grades after quality adjustments. Forward Brent is the market in forward contracts for a cargo of one of the basket grades loading in a named future month, whose grade and loading dates the seller nominates later. A Brent CFD is a short-dated swap that exchanges the average of Dated Brent over one week for a fixed price agreed against forward Brent.
