Svmuu News On April 3rd, strikes by the United States and Israel on Iranian-related infrastructure sparked market concerns over potential disruptions to energy supplies from the Middle East. Affected by this, international oil prices surged rapidly. WTI crude oil saw intraday gains approach 15% at one point, with its settlement price breaking above $110 for the first time since 2022. Meanwhile, the spot Brent crude oil price surpassed the $140 mark, reaching its highest level since 2008.
According to data from CoinGlass, activity in crude oil-related derivatives has significantly increased. The trading volume for XTI contracts rose by approximately 79.24% to $28.73 million, while open interest increased by about 4.37% to $20.76 million. Among these, Gate platform's XTI contract trading volume reached approximately $21.24 million with around 74,500 trades, ranking first globally. Its XTI contract open interest stood at $9.1 million, securing the second position worldwide.
Gate Futures has taken the lead in offering crude oil products, pioneering a commodity contracts section. It covers perpetual contract trading for XBRUSDT (Brent Crude Oil) and WTIUSDT (WTI Crude Oil), providing 7×24 hour trading, USDT settlement, and leverage of up to 100x. This empowers users to conduct cross-market asset allocation and strategic positioning amidst volatile market conditions.