Soaring Volumes Propel Brent and Gasoil to New Heights

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, has announced record-breaking trading activity across its futures and options markets during the third quarter of 2024. The company's energy markets, particularly the global benchmarks Brent and Gasoil, have reached unprecedented levels, showcasing the growing demand and liquidity in these critical commodities.

Unlocking Unprecedented Opportunities in the Energy Sector

Brent Futures and Options Reach New Milestones

The third quarter of 2024 saw ICE Brent futures and options reach a record-breaking 93.4 million contracts traded, with an average daily volume (ADV) of 1.5 million. This surge in activity underscores the growing importance of Brent as the global benchmark for crude oil. Additionally, Brent options hit a record open interest of 3.77 million contracts on October 11, 2024, reflecting the increasing use of these instruments for risk management and trading strategies.The overall open interest across Brent futures and options is up 20% year-over-year, demonstrating the sustained interest and participation in this critical market. This growth in activity and open interest highlights the pivotal role that Brent plays in the global energy landscape, providing market participants with a reliable and transparent platform for price discovery and risk management.

Gasoil Futures and Options Reach New Heights

Alongside the impressive performance of Brent, ICE Gasoil, the global benchmark for refined oil products, also saw record trading in options during the third quarter of 2024. Approximately 344,000 Gasoil options contracts were traded, underscoring the growing demand for these instruments as market participants seek to manage their exposure to the middle distillates market.Gasoil futures and options hit a record open interest of 1.3 million contracts on October 3, 2024, representing a remarkable 60% year-over-year increase. This surge in open interest highlights the critical role that Gasoil plays in the global energy supply chain, as it serves as the benchmark for a wide range of refined oil products, including diesel, heating oil, and jet fuel.

Diversifying the Energy Landscape: ICE's Comprehensive Offerings

ICE's energy markets extend beyond the Brent and Gasoil benchmarks, encompassing a diverse range of oil futures and options contracts. During the third quarter, ICE WTI futures and options reached a record 23.7 million contracts traded, while ICE Midland WTI (HOU) futures and ICE Murban futures also hit record highs of 1.6 million and 1.9 million contracts, respectively.The company's energy markets also include a comprehensive suite of natural gas benchmarks, supporting the globalization of this vital fuel. These include the global benchmark TTF, the U.S. benchmark Henry Hub, the Canadian benchmark AECO, the U.K. benchmark NBP, and the benchmark for North-East Asia, ICE JKM LNG (Platts). Open interest across this natural gas complex is up 24% year-over-year, with TTF futures and options hitting a record ADV of over 400,000 contracts during September 2024, a 30% increase compared to the previous year.

Embracing Sustainability: ICE's Environmental Markets

Alongside its energy markets, ICE has also established itself as a leader in the global environmental markets. The company's EU Carbon Allowance (EUA) futures and options represent the world's most liquid carbon market, with volumes up over 40% year-over-year. In the third quarter of 2024, ICE's North American environmental complex saw record trading of 1.47 million contracts, further solidifying the company's position as a key player in the rapidly evolving environmental markets.The growth in trading activity and open interest across ICE's energy and environmental markets underscores the company's commitment to providing market participants with a comprehensive suite of tools and solutions to manage their risk, capitalize on opportunities, and navigate the complex and ever-changing global energy landscape.