CME Group Reaches Multiple Records Across U.S. Crude Oil Futures

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May 08, 2024, 13:21 ET

CHICAGO, May 8, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that trading in its U.S. Crude Grade futures, which are Argus-settled and trade as a differential to the global benchmark WTI Crude Oil futures, reached several records in April 2024:

Record ADV of 17.8K contracts, up 54% year-over-year
- Record ADV for WTI Midland contracts of 7.1K, up 73% year-over-year
- Record ADV for WTI Houston contracts of 10.7K, up 43% year-over-year
Record average daily open interest (ADOI) of 612K contracts per day, up 45% year-over-year
- Record April ADOI for WTI Midland contracts of 279.9K contracts, up 37% year-over-year
- Record April ADOI of WTI Houston of 332.8K contracts, up 53% year-over-year
Record single-day open interest of a combined 657,889 contracts on April 29, 2024

"As U.S. crude oil exports hit new records, commercial demand for our WTI-linked export contracts is also growing rapidly as global market participants manage their price exposure," said Peter Keavey, Global Head of Energy at CME Group. "WTI's position as a global benchmark has never been stronger. Looking ahead, in addition to these volume and open interest records, open interest extends through December, 2027, indicating a growing number of long-term deals being indexed to WTI."

WTI Midland (Argus) vs. WTI futures and WTI Houston (Argus) vs. WTI futures are listed by and subject to the rules of NYMEX. For more information, please visit here.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.

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SOURCE CME Group