IPE Sets Another New Daily Volume Record

Volume of daily trade on the IPE, the leading energy futures and options exchange outside the US once again surpassed previous records achieved only the day before. The record volume of 157,381 lots was achieved on March 11 and exceeds the previous record of 154,594 lots set on Wednesday March 10. A new record for Brent Crude futures of 112,598 lots was simultaneously achieved. This volume, equivalent to 113 million barrels considerably exceeds daily world oil consumption of 75 million barrels. Richard Ward, Executive Vice President of the IPE said "Price uncertainty within the oil business has emphasised the value of fixing prices ahead using IPE contracts for crude oil and gas oil. Companies realise that achieving known costs and revenues is the key to long term stakeholder value."