Brent Crude Oil (BZ) September (U) 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 September Brent contract 2010–2025, measured over its tenure as the lead contract · Typically leads Jun 26 – Jul 26
The September contract leads from late June through most of July, mid-summer’s quiet seat, and its file is the Brent board’s mildest: 6 up, 5 down, a +1.0% median, and no tenure in eleven clean years moving more than 12% in either direction. Between the summer fade ahead of it and the autumn trade behind it, this window has mostly been oil marking time.
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.