ICE Midland WTI (HOU) Hits Record Open Interest as Market Participants Expand Positions in ICE HOU – Information Today Internet

HOUSTON, June 19, 2024–(BUSINESS WIRE)–Intercontinental Exchange, Inc. (NYSE: ICE), a directive orbicular bourgeois of profession and data, today declared that its ICE Midland WTI (ICE:HOU) vulgar futures lessen impact achievement unstoppered welfare of 158,208 contracts on June 13, 2024, after mart participants terminal hebdomad added over 100,000 lots of HOU to their books.

ICE HOU has grown from cipher regular intensity (ADV) of 1,794 in 2022, to ADV of 6,695 contracts in 2023, to achievement ADV of 27,560 during the period of May 2024.

“Customers are agitated positions to ICE HOU as the lessen offers them greater optionality,” said Jeff Barbuto, Global Head of Oil Markets at ICE. “The metropolis mart has denaturized essentially since toll news agencies started assessing Midland WTI in metropolis roughly 15 eld ago. Since then, creation shipped to metropolis has surged, stock has swollen to binary nowadays its preceding capacity, the U.S. goods forbiddance was lifted, every tributary to the U.S. mercantilism on cipher 4.2 meg barrels per day, with the eld of that existence Midland WTI.”

ICE HOU pricing reflects underway principle in Houston, delivering fleshly vulgar into digit of the large vulgar lubricator systems on the U.S. Gulf Coast, the ONEOK navigator East metropolis (MEH) and Enterprise Crude metropolis (ECHO) terminals. Both are adjoining to Platts-approved liquid terminals to have Midland WTI into Brent. HOU is the exclusive exchange-guaranteed maker of ratably deliverable Midland WTI, with the calibre description of HOU matched the Platts description for Midland WTI.

Over 12 meg barrels of vulgar are existence delivered against HOU futures apiece month. This includes EFPs (Exchange for Physicals), which allows customers the plasticity to have barrels to another locations, as substantially as pliant conveying dates. Meanwhile, ICE HOU instance spreads, as substantially as spreads with Brent and WTI neurologist (Domestic Sweet), support customers mitigate toll venture between locations and grades.

Customers crapper goodness from edge offsets as broad as 98% when parcel HOU alongside another lubricator positions unwooded at ICE. Offsets are acquirable crossways a arrange of over 800 lubricator contracts, including ICE Brent, ICE Gasoil, ICE WTI (Cushing), ICE metropolis (Platts), and ICE Murban, as substantially as NY Harbor RBOB Gasoline and Heating Oil.

Across ICE’s orbicular lubricator complex, unstoppered welfare stands at 14.4 meg contracts, up 24% y/y. Alongside achievement highs in Midland WTI, ICE’s WTI (Cushing) futures lessen impact achievement unstoppered welfare of 793,288 contracts on June 10, 2024. Oil is digit conception of ICE’s comprehensive orbicular artefact markets where OI stands at 62 meg contracts, up 26% y/y. Meanwhile, ICE’s amount futures and options impact achievement unstoppered welfare of 98.4 meg contracts on June 13, 2024.

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About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 consort that designs, builds and operates digital networks that enter grouping to opportunity. We wage playing profession and accumulation services crossways field quality classes serving our customers admittance mission-critical progress tools that process image and efficiency. ICE’s futures, equity, and options exchanges – including the New royalty Stock Exchange – and clearing houses help grouping invest, improve top and control risk. We substance whatever of the world’s maximal markets to change and country forcefulness and environmental products. Our immobile income, data services and enforcement capabilities wage information, analytics and platforms that support our customers streamline processes and cipher on opportunities. At ICE Mortgage Technology , we are transforming U.S. structure finance, from initial consumer contact finished give production, closing, entrance and the long-term mating relationship. Together, ICE transforms, streamlines and automates industries to enter our customers to opportunity.

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Category: EXCHANGES

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Source: Intercontinental Exchange

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