European Diesel Trade Thriving After Russia’s Exclusion

Europe’s Intercontinental Exchange Inc (ICE) has revealed that trading in European diesel futures and options has been thriving ever since Russian crude was excluded from the continent’s benchmark.  ICE has reported seeing a series of open interest records in the gasoil, or diesel, market that it operates for the month of June with open interest in options and quarterly volumes setting new records. ICE banned the delivery of Russian fuel into its gasoil contract in early 2023 following heavy sanctions by the European…