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