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Oil clearing volumes surge at Ice, CME

Ice Europe nears Brent clearing record midway through March

Clearing volumes of oil futures contracts spiked following the start of the US-Israeli war on Iran, as oil prices rose and hedging activity picked up. Volumes at Ice Europe are now approaching a monthly record with two weeks still to run.

Brent futures cleared through Ice Europe hit 4.7 million contracts on March 3, more than double February’s peak of 2.2 million. Month-to-date (MTD) volumes stood

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