UAE’s flagship Murban crude oil trades at record levels during Q2
7.4 billion barrels of ADNOC-supplied Murban crude oil traded as futures since launch
Highlights
* In the second quarter of 2024, ICE’s Murban futures market hit record traded volume with over 1.5 million contracts traded, equivalent to 1.5 billion barrels of Murban crude, up over 160 per cent since the start of 2024. * Throughout June, Murban futures hit a series of record volume trading days, including a record high day of 57,300 contracts traded, equivalent to 57.3 million barrels on June 10, 2024. * In addition, Murban futures average daily volume through the month of June was a record 31,000 contracts, equivalent to 31 million barrels.
Murban is part of ICE’s global oil complex covering over 800 futures and options contracts, centred around Brent which is used to price over three quarters of the world’s internationally traded crude oil.
