Oil Trading Volumes

Oil trading volumes in ICE WTI Crude oil futures hits three major milestones. ICE / WTI Oil Trading Volumes More than one million contracts have traded since launch, open interest exceeds 100,000 for first time on record daily volume.

ICE, the leading electronic energy marketplace, announced three major milestones reached in the new ICE West Texas Intermediate (WTI) Crude futures contract launched February 3 at ICE Futures.

Total trading volume since launch exceeded the one million contract mark, as open interest exceeded 100,000 for the first time. The contract also achieved two consecutive days of record volume on March 7 and 8 of over 70,000 contracts.

Also on Wednesday, ICE Futures reached a new exchange wide daily record of 385,505 contracts, 5.9% above the previous daily record of 364,064 contracts on February 7, 2006. In addition, the IPE Gas Oil futures traded at ICE Futures posted a new daily record of 98,474 contracts, exceeding the previous daily record of 94,646 contracts traded on January 11, 2006.

ICE WTI Crude futures set two consecutive volume records, with 70,500 contracts traded on March 7 and 71,174 contracts traded on March 8, compared to the previous record established on February 15 of 61,601 contracts. As of the close of trading yesterday, open interest in the contract reached 102,196 contracts. Total volume in ICE WTI Crude futures from February 3 through March 8 stands at 1,111,794 contracts.

The ICE WTI Crude futures contract trades electronically 21 hours a day, five days a week in the 37 jurisdictions globally where ICE Futures screens have been approved, including the US, the UK, and throughout continental Europe and Asia. The ICE WTI Crude futures contract trades continuously from 1:00 a.m. to 10:00 p.m. local London time, or from 8:00 p.m. through 5:00 p.m. Eastern time.

Each crude futures contract is sized at 1,000 barrels, with the contract price quoted in US dollars and cents per barrel.

The minimum price fluctuation is one cent per barrel, equivalent to a tick value of US$10.00. A fee waiver on execution is in place for the ICE WTI Crude futures contract from launch through March 31, 2006. Thereafter, a contract execution fee of US$0.70 per side will be in effect.

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