ICE reports record OI in global commodities, led by natgas/LNG

LNG Carbon
28 Jun 2021

Quantum Commodity Intelligence - Intercontinental Exchange Monday announced record open interest across its global commodities futures markets of 35.2 million contracts on June 24, 2021, contributing to 10% year-over-year growth in total OI on ICE and surpassing the previous record set on June 25, 2020.

ICE also reported a record high OI across its global natural gas futures markets of 19.1 million contracts on June 24.

ICE's North American natural gas futures and options, which includes Henry Hub and U.S. Basis Markets contracts, is at record high OI of approximately 22.8 million, with OI in Henry Hub futures and options up 11% y-on-y.

The European TTF natural gas benchmark also set a record OI of 3.2 million across futures and options, up 4% y-on-y.

ICE said participation on TTF has grown by 83% from 2016 to 2020, with the highest growth coming from those based in the US.

Meanwhile, OI in the Platts JKM LNG futures contract, is up 15% y-on-y, while the number of participants has increased 25% since May 2020.

JKM is the primary Asian gas benchmark for pricing LNG.

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