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OIL
ICE Brent crude futures open interest has eased back in the last week after surging to the highest since Oct 2021 in March 15.
- ICE Brent aggregate open interest was yesterday down to 2.303m from a high last week of 2.376m. WTI futures open interest has however continued to edge higher to 1.736m from a low of 1.615m at the end of Feb. WIT open interest however remains below levels seen in early Feb.
- Larger than normal Brent crude aggregate daily futures traded volumes have been seen this week at an average of 1.23m, although dipped slightly yesterday back to 1.06m yesterday.
- The week hav also seen largely than normal options volumes with focus early in the week on calls. The WTI daily futures volume have however been near normal at an average of 0.8m although also fell yesterday to 0.63m with options down at 97k.
- ICE Gasoil futures open interest has edged slightly lower on the week to 0.798m but Nymex RBOB gasoline has increased slightly to 0.387m.
- Daily Gasoil aggregate traded volumes remain above normal at an average of 363k this week while daily RBOB gasoline futures volumes have averaged around 173k this week.
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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