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OIL
ICE Brent crude futures open interest has pulled back since late March although WTI interest continues to rise. Nymex RBOB gasoline open interest has increased to the highest since June 2021.
- ICE Brent aggregate open interest was yesterday down to 2.26m from the highest since Oct 2021 on March 15 of 2.376m. Brent crude aggregate daily futures traded volumes have average above normal at 1.12m since Tuesday compared to just 0.92m in the last week of March. Options traded volumes have also been strong this week averaging 275k and driven largely by higher call volumes.
- WTI futures open interest has resumed a trend higher to 1.784m following a dip lower at the start of this week. WTI open interest however remains below levels seen in early Feb which reached a high of 1.808m. WTI crude aggregate daily futures traded volumes have average 0.96m since Tuesday compared to 0.65m last week.
- Nymex RBOB gasoline open interest is up to 0.419m with daily futures volumes of 188k this week.
- ICE Gasoil futures open interest remains steady since rising in late March at 0.838m today. Daily Gasoil aggregate traded volumes have averaged just above normal at 357k 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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