IPE Extends Gas Oil And Natural Gas Futures

From today it is possible to trade Gas Oil and Natural Gas futures up to three years ahead, improving the long-term risk management services available at the IPE. Previously Gas Oil futures could be traded up to 18 months ahead (12 months and two quarters) and Natural Gas traded 15 months ahead (15 individual months as well as balance of the month and daily contracts). The extensions bring Gas Oil and Natural Gas futures into line with Brent Crude, which has traded out for three years since December 1997. The IPE now lists 12 consecutive months, four quarter months and two half year months (a total of 18 contract months) for Gas Oil futures. An additional seven quarter months have been added for Natural Gas futures. Trevor Christmas, senior vice president of Business Development at the IPE, said "We are pleased to be able to offer this additional service to our Members and users. The extraordinary price volatility experienced over the last two years has clearly demonstrated the benefits of hedging. We have seen a corresponding increase in our volumes, with trade so far this year up almost a fifth on last year and 70% on 1997 levels. Although it is likely that the prompt months will still be the most actively traded, the extra contract months will offer flexibility and new opportunities to the market".