ICE Futures Sets New Gas Oil Futures Record

IntercontinentalExchange (NYSE: ICE), the leading electronic energy marketplace, announced record volume yesterday in the Gas Oil futures contract listed at its subsidiary, ICE Futures. Gas Oil futures volume of 110,498 on July 10 marked the first time volume in the contract has exceeded 100,000 contracts, surpassing by more than 12% the previous record of 98,474 contracts established on March 8, 2006.

The Gas Oil futures contract also set two consecutive open interest records late last week, with 248,659 contracts on July 6, and 255,440 contracts on July 7.

Introduced in 1981, Gas Oil was the first ICE Futures contract launched and is often referred to as heating oil in Europe and the United States. Today the ICE Futures Gas Oil contract is the leading heating oil futures contract by traded volume, and it serves as a significant pricing benchmark for refined oil products, particularly in Europe, Asia and the Middle East.