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CME says WTI futures average daily volumes doubled year-over-year in April
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CME says WTI futures average daily volumes doubled year-over-year in April
May 8, 2024 11:53 AM

May 8 (Reuters) - Futures exchange operator CME Group ( CME ) on

Wednesday said average daily volumes in U.S. crude futures

jumped 54% year over year in April.

Volume for WTI Midland contracts averaged 7,100, up 73%

year-over-year, while WTI Houston averaged 10,700, up 43%

year-over-year, the CME said in a statement.

WTI prices edged 1.5% lower in April, averaging

$83.41 a barrel, as energy firms added to crude stockpiles,

abating supply concerns.

"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," said Peter

Keavey, global head of energy at CME Group ( CME ).

The daily volume of CME's U.S. crude futures has averaged

about 17,800 contracts in April, with open interest around

612,000 contracts, CME said.

(Reporting by Seher Dareen in Bengaluru)

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