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Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listing services, today announced that the ICE Low Sulphur Gasoil futures contract achieved a new open interest record of 1,004,645 contracts on 26 September, 2017, surpassing 1 million contracts for the first time. The previous open interest record was 999,264 contracts on 25 September, 2017.
This record reflects an expanding diesel market and demonstrates a strong growth in liquidity as market participants rely on ICE Low Sulphur Gasoil to hedge exposure to diesel prices. The ICE Gasoil futures complex includes a comprehensive range of oil products, including 50 contracts that price as a differential to Low Sulphur Gasoil including options, differentials and ‘cracks’ to Brent crude.
Low Sulphur Gasoil is the benchmark for the global refined oil market, playing the same pricing role for middle distillate oil as Brent plays in providing pricing to the global crude oil market.
Launched in 1981 to help European oil refiners and producers hedge their exposure to price fluctuations in refined oil products, ICE Gasoil is a physically delivered futures contract.
