Svmuu News: Volatility in the energy markets continues to intensify. The price of Brent Crude Oil (XBR) has risen rapidly, hitting a 24-hour high of $116.31, marking a new phase high. It is currently trading at $115.70, representing a 24-hour gain of 12.65%. Market bullish sentiment has noticeably increased. Concurrently, Natural Gas (NG) has also strengthened, reaching a 24-hour high of $3.235 and currently trading at $3.177, up 8.17%.
Driven by the rapid price surge, trading activity for crude oil contracts has significantly increased. According to data from the CoinGlass platform, the 24-hour trading volume for the Gate XBR contract reached $7.4598 million, a 290.15% increase compared to the previous period. The current open interest for the contract is approximately $4.1128 million, with continuous capital inflows indicating a clear rise in market participation.
Gate Futures has taken the lead in offering crude oil products, pioneering a commodities contract sector. It covers perpetual contract trading for XBRUSDT (Brent Crude Oil), XTIUSDT (WTI Crude Oil), and NG (Natural Gas). The platform provides 24/7 trading, USDT settlement, and leverage of up to 100x, assisting users in cross-market asset allocation and strategic positioning during volatile market conditions.