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ICE Futures announces record daily volume in low sulfur gasoil contract

Published by
Hydrocarbon Engineering,


The Intercontinental Exchange (ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, has announced that the ICE Futures Europe low sulfur gasoil contract has achieved a daily volume record of 766 054 contracts on 1 November 2016.

Volume in ICE low sulfur gasoil-related contracts, such as the ICE low sulfur gasoil/Brent futures crack and the ICE heating oil/low sulfur gasoil futures spread also achieved daily records of 57 890 contracts and 10 164 contracts, respectively. The strong growth in ICE low sulfur gasoil futures volume is driven by rising hedging demand from European refineries to meet winter diesel specifications and increasing hedging activity in cross Atlantic diesel arbitrage flows.

The ICE low sulfur gasoil futures contract is based on a 0.001% sulfur (10 ppm) diesel barge specification, reflecting the underlying European middle distillate market, which has moved towards a low sulfur grade in recent years. Since the successful transition from 0.1% to 0.001% sulfur diesel contract in May 2014, ICE low sulfur gasoil has created a number of open interest records. On 31 October 2016 open interest was 936 032 lots.

Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/04112016/ice-futures-announces-record-daily-volume-in-low-sulfur-gasoil-contract/


 

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