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 will bring transparent pricing to a fuel that helps meet regional demand.

These benchmarks are the foundation for over 600 related oil products including locational and refined spreads across 47 geographic markets. This means participants can access the products they need at the exact point of consumption or production.


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 Permian WTI 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
  • Sourced from Abu Dhabi and producing approximately 1.7M barrels per day, Murban crude is recognized for its reliable supply and high quality

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 two-thirds of the world's crude oil, its broad accessibility and ability to continuously evolve has led Brent to become 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 Permian WTI 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.

The light sweet Middle Eastern crude has its first futures contract, bringing transparent pricing to serve a global market.


ICE Midland WTI American Gulf Coast Futures

This slide deck was originally presented at the fall meeting of the Crude Oil Quality Association (COQA) on 28 October 2021.

The ICE Permian WTI crude futures contract is being restructured and renamed the ICE Midland WTI American Gulf Coast (AGC) crude futures contract. Find out why and what you can expect with the restructured contract.

White paper
Brent Benchmark Complex: Evolving necessity

ICE and Platts understand the importance of changes to the Brent Benchmark Complex. This paper provides an overview of options for adding additional deliverable crude oil to the Brent complex and outlines a number of key issues and questions as it seeks market feedback.

The Prospects of Murban as a Benchmark

ICE’s Head of Oil Market Research, Mike Wittner writes for the Oxford Institute for Energy Studies on what makes Murban a potential benchmark.

Brent: the World's Crude Benchmark

Mike Wittner, Head of Oil Market Research, ICE discusses the ways Brent reflects global oil fundamentals which is essential to navigate uncertainty throughout market cycles.

Unpacking the Energy Markets with Helima Croft

Stacey Cunningham, President of the New York Stock Exchange, sat down, virtually, with Helima Croft, Managing Director and Global Head of Commodity Strategy at RBC Capital Markets to discuss this unprecedented time in energy.

Brent v WTI

ICE’s Head of Oil Market Research, Mike Wittner, looks into why WTI went negative and whether it could happen to the global crude benchmark, Brent.

Brent Bolsters Position as Price Anchor

Petroleum Intelligence Weekly explains fears that global oil price benchmark Brent could fall apart and drop below zero like its US counterpart have not materialized.