Crude Oil futures at TOCOM reach new record in Dec
Tokyo-Japan (Jan 6) Dubai Crude Oil futures had significant trading gains, up 34.7% to 23,958 contracts, which contributed to the overall increase in exchange volume.
The Tokyo Commodity Exchange's average daily volume for December 2015 was 101,127 contracts, up 0.3% from November 2015. Volume for Gold standard and Gold Daily futures, TOCOM’s most active contracts, were both down.
Gold standard decreased 5.2% to 27,290 contracts while Gold Daily decreased 25.4% to 11,837 contracts. However, TOCOM’s Dubai Crude Oil futures had significant gains, up 34.7% to 23,958 contracts, which contributed to the overall increase in exchange volume.
OPEC’s December announcement to postpone output cuts furthered downward pressure on global crude oil prices. TOCOM’s Dubai Crude Oil prices fell to 26,890 yen per kiloliter, a price not seen in almost 7 years on December 25. High volatility led to the highest monthly volume for Crude Oil futures, 503,119 contracts, since its launch in 2001.