Micro WTI Crude Oil Futures Volume Crosses 5 Million Contracts Traded

CME Group, the operator of one of the largest US derivatives exchanges, announced on Friday that Micro WTI Crude Oil futures volume surpassed 5 million contracts yesterday. That said, Micro WTI Crude Oil futures also set a new record of 151,131 contracts traded after breaking a record established on November 3.

Peter Keavey, Global Head of Energy at CME Group, commented that the increasing demand returning to pre-pandemic levels helped to bolster the ongoing bullish trend in the futures volume of these contracts: “With demand returning to pre-pandemic levels and uncertainty around supply, Micro WTI Crude Oil futures are helping a broader range of clients access these markets in a more efficient way.”

Also, he added: “We are pleased with the strong client interest we are seeing for these smaller-sized contracts across the globe, which is reflective of the vital role WTI serves in the market today.  We look forward to continuing to provide the transparency and price discovery traders need to effectively manage their exposure to crude oil.”

ADV Surge In Interest Rate Contracts

On October’s metrics disclosed early this week, CME Group noted an increase in interest rate contracts’ average daily volume (ADV). The report stated that interest rate contracts surged 94% on a yearly basis, while the overall ADV soared 32% on a yearly basis to 20.4 million contracts during the period.

Also, for the period, equity index ADV was 10.2 million contracts, options ADV accounted for 3.8 million, while energy ADV hit 2.5 million contracts. Moreover, agricultural ADV was 1.2 million contracts last month, while forex ADV hit 720,000 contracts and metals ADV reached 465,000 contracts. “Micro E-mini futures and options had an ADV of 2.1 million contracts, representing 38.8% of overall Equity Index ADV, while Micro WTI Crude Oil futures accounted for 2.5% of overall Energy ADV, and Micro Bitcoin futures accounted for 0.5% of overall Equity Index ADV,” the group said in the report.