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OIL
Brent futures open interest falls to the lowest since early June although WTI interest has recovered from the lows seen last week. Yesterday saw strong aggregate daily trading volumes after volumes below the August average at the start of this week. Daily traded volumes have this week been impacted by the holiday on Monday and with the Oct23 contract expiry yesterday.
- ICE Brent open interest is down from 2.29m in late July to 2.175m yesterday. Daily aggregate ICE Brent traded volumes increased yesterday back up to 1.22m compared to an average daily volume for August of 983k.
- Nymex WTI open interest has recovered from a low of 1.62m to 1.67m over the last week. The Nymex WTI aggregate daily volume was yesterday up to 988k compared to an average of 819k for the whole month of August.
- Aggregate open interest in ICE Gasoil has maintained relatively stable in the last couple of months with just a slight dip this week to 707k while daily traded volumes have average just below the August average at 275k this week.
- Nymex gasoline open interest is also steady at 366k with traded volumes this week in line with the monthly average of 190k.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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