The collaboration introduces institutional-grade oil trading on OKX using ICE’s Brent and WTI benchmarks.
Crypto exchange OKX and Intercontinental Exchange (ICE) announced a partnership to launch perpetual futures tied to ICE’s Brent Crude and WTI Crude benchmarks. The move targets Hyperliquid’s dominance in 24/7 oil trading, which saw volumes surge from $339 million to $7.3 billion in two weeks during March geopolitical tensions.
Hyperliquid’s oil perpetuals reached $96 per barrel ahead of traditional markets during a Middle East crisis, with open interest peaking at $300 million. The platform’s success highlighted demand for real-time macro trading outside conventional hours.
The OKX-ICE venture brings institutional backing to the space, linking crypto-native traders with regulated energy benchmarks.