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IFAD Murban crude futures see strong start but end-month volatility fuel concerns
Trading activity for Murban crude futures on the ICE Futures Abu Dhabi, or IFAD, exchange in April points to a strong start for the nascent contract, but traders say end-month volatility in the key front-month contract is a cause for concern.
More broadly, traders say the launch of IFAD Murban has made it easier to value and trade all Abu Dhabi grades against benchmark Platts Dubai, which is used directly or indirectly in the pricing of nearly all Middle East crudes as well as grades from Far East Russia.
Press release content from Business Wire. The AP news staff was not involved in its creation.
ICE Announces That a Record 18,848 Murban Crude Oil Futures Contracts Traded on April 20
April 21, 2021 GMT
ABU DHABI, United Arab Emirates (BUSINESS WIRE) Apr 21, 2021
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that a record 18,848 ICE Murban Crude Oil Futures contracts traded on ICE Futures Abu Dhabi (“IFAD”) on April 20, marking its highest volume day since the contracts launched on March 29. Alongside ICE Murban Crude Oil Futures, IFAD launched trading in 18 Murban-related cash settled derivatives and inter-commodity spreads, offering the market the broadest range of ways to trade and hedge Murban crude oil.
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