April 19 (LNGJ) - Intercontinental Exchange, the leading global provider of energy trading platforms for LNG, oil and other commodities and indices, reported record trading activity in Murban crude as ICE Futures Abu Dhabi (IFAD) marked its third anniversary. IFAD and ICE’s Murban futures market was launched in March 2021 with the Abu Dhabi National Oil Company (ADNOC) and nine of the world’s largest energy traders as founding partners.
ICE said that in the first quarter of 2024, the Murban futures market hit record traded volume of over 1.1 million contracts and in March reached record average daily volume of 21,454 contracts, up 152 percent year-over-year. On April 15, 2024, Murban futures hit a single day volume record with 36,464 contracts traded. “Three years on from launch, we, together with ADNOC and our partners, have built a truly global Murban futures market which sits alongside benchmark crude grades Brent and Midland WTI,” said Gary King, President of ICE Futures Abu Dhabi.
