Connect to global oil markets
Built for the commercial trader. Traded by a global market. As global oil markets become more interconnected, risk management is crucial. Rising U.S. shale exports, growing Asian demand, and geopolitical challenges mean commercial participants demand precise, reliable tools to hedge and manage their risk.
Brent crude is the cornerstone of our complex, which includes benchmarks Gasoil, WTI and (Platts) Dubai. Our broad Asian offering sets the standard for Asia-bound Mideast crude, while ICE Murban Futures brings transparent pricing to a fuel that helps meet regional demand.
Crude
Our crude complex centers on Brent, WTI, (Platts) Dubai and Murban, along with the most liquid market of related derivatives.
- Brent anchors price discovery with ~80% of global crude priced off the benchmark
- Designed for export, ICE Midland WTI American Gulf Coast offers easy access to a global market, while WTI Cushing is the U.S. benchmark
- ICE (Platts) Dubai is the Asian benchmark for Middle East crudes exported across the Asia-Pacific
- ICE Murban Futures is based on Murban crude, which is recognized for its reliable supply and high quality. Murban crude is sourced from Abu Dhabi, with production of approximately 1.7M barrels per day
Refined
Gasoil forms the basis for our global refined complex as the most liquid distillate benchmark.
- Global distillate pricing centers on Gasoil, connecting markets from Singapore to New York
- Gasoil connects global middle distillates with crack spreads on jet, diesel and heating oil
- Our regional benchmarks span Naphtha to Fuel Oil
Global Benchmarks
Price benchmarks do the "heavy lifting" for oil price discovery, enabling other grades to be traded in reference to the most liquid flat price instruments. This helps provide security and liquidity to the whole market.
Pricing approximately 80% of the world's crude oil, its broad accessibility and ability to continuously evolve makes Brent the global oil benchmark.
The ICE West Texas Intermediate (WTI) Light Sweet Crude Oil futures contract offers the opportunity to trade one of the world's most liquid crudes in an electronic marketplace.
ICE’s Midland WTI American Gulf Coast offering brings a light sweet U.S. crude to the global market, with delivery, storage and dock capacity in Houston enabling efficient transportation to domestic and foreign buyers.
(Platts) Dubai futures provide critical price discovery and risk management for the Middle Eastern and Asian crude markets.
As the price marker for the middle part of the refined barrel, the contract plays an important role in hedging and trading mechanisms, providing participants with access to a range of products in a single contract.
The physically delivered futures contract provides hedging efficiencies for barrels of ultra-low sulphur diesel and domestic heating oil.
ICE’s Marine Fuel complex provides critical risk management tools to comply with the new navigation.
ICE Brent American-style Options are an effective investment and hedging tool with deep liquidity and screen execution. With a flexible exercise across the life of the contract, American-style Options result in the corresponding futures position. ICE offers a range of American-style options based on the legacy contracts, such as Brent, WTI and Low Sulphur Gasoil.
Based on the underlying Brent, WTI and Heating Oil vs Low Sulphur Gasoil contracts, ICE European-style Options can be exercised on the expiry day and result in the settlement price of the related future.
Based on the spread between two different futures expirations, ICE Calendar Spread Options allow participants the opportunity to invest or hedge the change in the shape of the term structure of the related future. Offered on 1-month, 6-month and 12-month differentials, Calendar Spread Options are available on several underlying contracts, such as Brent, WTI and Low Sulphur Gasoil.