Brent Crude Oil (BZ) February (G) contract study: year-by-year results, the day-by-day shape of the move and where highs and lows printed.
Contract Almanac · Brent Crude
Every clean February Brent contract 2011–2026, measured over its tenure as the lead contract · Typically leads Nov 26 – Dec 23
The February Brent contract leads from Thanksgiving to the holidays, the year’s quietest seat on the world’s barrel, and its record is appropriately muted: 5 up, 7 down, with an average within half a percent of flat and the shallowest average excursions on the board in both directions. December, it turns out, is not when the world repositions its oil.
Each year is one contract, measured from the open of the day it took over the lead to the close of the day it handed off, the same roll convention used across all Traders Brief research. One honesty note specific to Brent: the contract’s early CME-era history contains roll irregularities, and those irregular tenures are excluded, leaving 11 to 14 clean observations per month rather than the full 16 available elsewhere. The counts shown are the cleaned record. All highs and lows are the contract’s own trades, marked by trading day of the tenure, not calendar day.