Oil, Fuel Contracts Break Records on Surging Prices ...Middle East

Oil and fuel futures and options contracts traded on Monday hit an all-time high as traders rushed to lock in surging benchmark prices, Reuters has reported, citing ICE data. The total number of futures and options in crude and fuels reached 12.7 million, with the number of contracts for ICE’s Low Sulphur Gasoil hitting 1.3 million—the highest ever. The ICE contract is the global benchmark for all refined oil products. Brent crude and West Texas Intermediate futures and options traded on March 1, meanwhile, stood at 4.8 million. On…

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