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ICE Futures Europe Unveils Brent Futures
IntercontinentalExchange has launched the first Brent Crude cracks to U.S.-refined products on ICE Futures Europe.
IntercontinentalExchange (ICE) has launched the first Brent Crude cracks to U.S.-refined products on ICE Futures Europe. The new contracts are the ICE Heating Oil vs ICE Brent Futures Crack Spread and the ICE RBOB Gasoline vs ICE Brent Futures Crack Spread.
The move comes as a response to requests from U.S. market participants, who require a tradable crack relationship to the global Brent Crude benchmark. The cracks will help align U.S. refined product pricing with the benchmark that best represents the global price of crude oil for refiners, traders and hedgers.
Click here for the release from ICE.