ICE reports record gas oil trade in London

NEW YORK Oct. 14 (BestGrowthStock) – The number of gas oil futures
contracts traded on the IntercontinentalExchange (ICE) in
London hit a record high two days ago, ICE Futures Europe said
on Thursday.

On Tuesday, 344,731 gas oil futures contracts traded on ICE
Futures Europe, surpassing the previous record of 343,672
contracts traded on Feb 10, 2010, the exchange said.

The ICE (ICE.N: ) gas oil futures contract is the benchmark
for deciding the base price of most distillate fuels in Europe
— including diesel, heating oil and jet fuel.

The record volume coincided with the expiry of the October
ICE gas oil contract. Physical delivery of ICE gas oil in
October totalled 422,300 tonnes or 4,223 lots on expiry, the
highest level since the record of 499,300 tonnes back in
February.

Despite the record number of contracts changing hands, gas
oil prices settled on Tuesday at exactly the same level as they
had the previous day — $722.75 a tonne.

Most of the volume was on the contracts for delivery in
November and December. For November, 137,678 contracts changed
hands while 120,448 December contracts were traded.
(Reporting by David Sheppard; Editing by David Gregorio)

ICE reports record gas oil trade in London