The FINANCIAL -- Intercontinental Exchange on February 8 announced that the ICE Low Sulphur Gasoil contract achieved a daily volume record of 876,011 contracts on 7 February, 2018.
The previous daily volume record was 766,054 contracts on 1 November 2016.
The ICE Gasoil futures complex includes a comprehensive range of oil products, including 50 contracts that price as a differential to Low Sulphur Gasoil including options, differentials and ‘cracks’ to Brent crude, according to Intercontinental Exchange.
Low Sulphur Gasoil is the benchmark for the global refined oil market, playing the same pricing role for middle distillate oil as Brent plays in providing pricing to the global crude oil market. Launched in 1981 to help European oil refiners and producers hedge their exposure to price fluctuations in refined oil products, ICE Gasoil is a physically delivered futures contract.