Column-Hedge funds dump distillates as recession risks intensify: Kemp [Reuters]
Intercontinental Exchange Inc. (ICE)
Last intercontinental exchange inc. earnings: 4/30 07:30 am
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Source: Reuters
Hedge funds and other money managers sold the equivalent of 8 million barrels in the six most important petroleum-related futures and options contracts in the week to Sept. 20. Funds have sold a total of 186 million barrels over the 16 weeks since the start of June, according to records published by ICE Futures Europe and the U.S. Commodity Futures Trading Commission. The total position has been reduced to just 444 million barrels, in only the 22nd percentile for all weeks since 2013, as funds have exited the market ( tmsnrt.rs/3Stv0XG The most recent week saw purchases of Brent (+6 million barrels), NYMEX and ICE WTI (+3 million) and U.S. gasoline (+2 million) but sales of U.S. diesel (-3 million) and European gas oil (-15 million). Middle distillates such as diesel and gas oil are mostly used in freight transportation, manufacturing and mining, so they are heavily geared to the business cycle. Fund managers have cut their position in mid-distillates in each of the last th
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ICE
News
- Intercontinental Exchange, Inc. (NYSE: ICE) had its price target lowered by analysts at Bank of America Co. from $156.00 to $153.00. They now have a "buy" rating on the stock.MarketBeat
- ICE Announces Record Trading Activity in Murban Crude as ICE Futures Abu Dhabi Marks Third Anniversary [Yahoo! Finance]Yahoo! Finance
- ICE Announces Record Trading Activity in Murban Crude as ICE Futures Abu Dhabi Marks Third AnniversaryBusiness Wire
- European Gas Options-Buying Jumped During Recent Price Swings [Financial Post (Toronto, Ontario, Canada)]Financial Post
- European Gas Options-Buying Jumped During Recent Price Swings [BNN Bloomberg (Canada)]BNN Bloomberg
ICE
Earnings
- 2/8/24 - Beat
ICE
Sec Filings
- 4/5/24 - Form 4
- 4/3/24 - Form 144
- 4/3/24 - Form 144
- ICE's page on the SEC website