ICE logs record trading of 6 billion Murban crude barrels

ICE logs record trading of 6 billion Murban crude barrels

ABU DHABI / WAM Intercontinental Exchange (ICE) today announced record trading activity in Murban crude with ICE Futures Abu Dhabi (IFAD) marking its third anniversary. IFAD and ICE’s Murban futures market launched in Abu Dhabi in March 2021 with ADNOC and nine of the world’s largest energy traders as founding partners. Murban is the UAE’s ...

ABU DHABI / WAM

Intercontinental Exchange (ICE) today announced record trading activity in Murban crude with ICE Futures Abu Dhabi (IFAD) marking its third anniversary.

IFAD and ICE’s Murban futures market launched in Abu Dhabi in March 2021 with ADNOC and nine of the world’s largest energy traders as founding partners. Murban is the UAE’s flagship crude grade, supplied by ADNOC to meet global demand and is considered one of the lowest carbon emission crude oils in the world.

In the first quarter of 2024, ICE’s Murban futures market hit a record traded volume of over 1.1 billion barrels and in March reached a record average daily volume of 21,454,000 barrels, up 152 percent year-over-year (YoY). On April 15, 2024, Murban futures hit a single-day volume record with 36,464,000 barrels traded. Murban futures have reached a series of open interest (OI) records through the start of 2024 with