When ICE Sets Oil's Official Price Each Day

7:28-7:30pm UK time (2:28-2:30pm Eastern) is when ICE sets its official daily price for Brent, WTI, Midland WTI AGC and Dubai oil futures and options — contracts to buy oil later — per its trading schedule. Like a closing bell for oil, I track it closely because hedging, locking in prices, and energy costs key off it.