The benchmark Brent crude futures set new records for monthly volume and
average daily volume in June, as the price of Brent was volatile amid economic
growth concerns and supply disruption issues, IntercontinentalExchange Inc. (ICE)
said Tuesday.
Brent crude futures monthly volume reached 15,052,437 contracts, while daily
volume averaged 716,783 contracts, ICE said.
Average daily volume for ICE Brent Crude futures and options increased by 25.6%
in June compared with the same month last year, reaching 754,616 contracts,
according to the ICE statement.
Oil prices were volatile last month. Worries that a slowdown in the global
economy, largely driven by the euro-zone crisis, could cut demand for oil made
Brent prices fall below $90 a barrel, to levels unseen since December 2010.
But at the end of the month hopes for a break-through in solving the euro-zone
crisis, a
Norway
oil
workers strike and the upcoming European Union oil embargo against
Iran
pushed prices back up towards $100 a barrel. The embargo came into force July 1.