ICE Brent: the benchmark for global crude

ICE Brent futures year-to-date average daily volume is 1,226,334 lots, up 45% YoY. Month-end open interest hit a record 2,692,519 lots, up 21% YoY.

Brent is a waterborne crude that can be put on a vessel and shipped and stored anywhere in the world. Because of that, ICE Brent reflects global oil market fundamentals and the global economy. This is reinforced by the fact that approximately 70% of the world’s traded crude is priced relative to Brent. Commercial market participants (oil producers, refiners, and consumers) represent 44% of open interest in ICE Brent futures, underscoring its connection with the physical oil markets.

Top 25 ICE Futures Contracts - During Asian Hours

Product Description Exchange Code ADV for Asian Hours Total ADV
Three Month Euro (Euribor) Future IFLL 291,147 776,731
ICE Brent Crude Futures IFEU 291,044 1,149,824
Three Month Sterling Future IFLL 134,081 411,679
Low Sulphur Gasoil Futures IFEU 89,916 349,298
ICE WTI Crude Futures IFEU 44,067 276,779
Long Gilt Future IFLL 43,661 170,992
FTSE 100 - Stnd Index Future IFLL 26,144 105,270
NYBOT Sugar No. 11 IFUS 25,041 177,185
Dutch TTF Gas Base Load Futures NDEX 21,576 101,513
Dubai 1st Line Futures IFEU 18,843 30,376
Singapore Gasoil (Platts) Futures IFEU 16,737 32,645
EUA Futures IFEU 13,299 33,122
MSCI Emerging Markets Index Futures IFUS 10,651 110,880
Three Month SONIA IFLL 9,871 44,183
Dutch TTF Gas Spot NDEX 8,428 20,897
ICE Brent Crude Futures Settlement IFEU 8,063 50,075
Natural Gas NYMEX LD1 Futures IFED 7,157 559,806
Brent Crude Futures Singapore Minute Marker IFEU 6,777 6,793
Three Month Euroswiss Future IFLL 5,794 15,271
ICE UK Natural Gas Futures IFEU 5,782 28,443
Dated Brent vs Brent 1st Line Futures IFEU 5,688 32,284
Singapore Mogas 92 Unleaded (Platts) Futures IFEU 5,664 9,979
Brent 1st Line vs Dubai 1st Line Futures IFEU 5,333 9,265
ICE WTI Crude Futures Settlement IFEU 4,828 23,165
NYBOT Cotton No. 2 IFUS 4,173 36,991
  • Asian Hours: 8:00am SGT - 5:00pm SGT (1:00am – 10:00am UK, 8:00pm – 5:00am ET)

Top Performing ICE Contracts - YoY % Growth

Product Description Exchange Code ADV Last Year YoY%
ICE Brent Crude Futures IFEU 1,149,824 855,226 34.45%
Three Month Euro (Euribor) Future IFLL 776,731 628,344 23.62%
Natural Gas NYMEX LD1 Futures IFED 559,806 267,318 109.42%
Three Month Sterling Future IFLL 411,679 626,460 -34.28%
Low Sulphur Gasoil Futures IFEU 349,298 279,956 24.77%
ICE WTI Crude Futures IFEU 276,779 219,707 25.98%
Natural Gas Firm Physical, Gas Daily Daily OTC 185,469 183,116 1.28%
NGX NG Firm Phys FUT NYMEX LD1 OTC 180,292 53,973 234.04%
NYBOT Sugar No. 11 IFUS 177,185 195,169 -9.21%
Firm-LD Around The Clock OTC 171,473 487,235 -64.81%
Long Gilt Future IFLL 170,992 177,373 -3.60%
NGX NG Firm Phys FUT, Fixed Price OTC 168,761 118,872 41.97%
Natural Gas Firm Physical, Fixed Price OTC 151,004 200,347 -24.63%
Firm-LD Peak, LD1 for Physical OTC 141,671 296,776 -52.26%
ICE Heating Oil Futures IFEU 124,698 23,504 430.54%
Natural Gas Basis NYMEX LD1 for Inside FERC Futures IFED 121,437 100,671 20.63%
MSCI Emerging Markets Index Futures IFUS 110,880 66,831 65.91%
FTSE 100 - Stnd Index Future IFLL 105,270 80,256 31.17%
Dutch TTF Gas Base Load Futures NDEX 101,513 79,848 27.13%
Firm-LD Off-Peak, LD1 for Physical OTC 96,876 83,114 16.56%
Firm-LD Off-Peak OTC 94,649 12,310 668.91%
Natural Gas Firm Physical, Inside FERC OTC 65,952 64,648 2.02%
NGX NG Firm Phys FUT, 7A Month Ahead Index OTC 53,101 34,403 54.35%
ICE Brent Crude Futures Settlement IFEU 50,075 37,100 34.97%
Natural Gas Firm Physical, NYMEX LD1 OTC 47,729 38,766 23.12%
  • IFEU - ICE Futures Europe
  • IFLL - ICE Futures Europe - Financial Products Division
  • NDEX - ICE Endex Derivatives B.V
  • IFUS - ICE Futures US
  • IFLX - ICE Futures Europe - Agricultural Products Division
  • IFED - ICE Futures Energy Derivatives