ICE, OKX Launch 24/7 Perpetual Brent and WTI Futures

Intercontinental Exchange and crypto exchange OKX announced perpetual futures tied to ICE Brent and ICE WTI benchmarks that will trade around the clock on OKX in regions where the exchange is licensed.

The contracts will use ICE Brent and ICE WTI futures prices as the reference. Perpetual futures do not expire and rely on recurring funding payments between long and short holders to keep the contract price aligned with the underlying benchmark, enabling continuous 24/7 trading.

The products will be available where OKX is permitted to offer perpetuals, including the European Economic Area, the United Arab Emirates, Singapore, Australia and other selected markets. OKX holds some U.S. licenses, but perpetual futures remain restricted for most U.S. retail traders.

The listing is the first joint product since ICE invested in OKX in March, a transaction that valued OKX at $25 billion and secured an ICE board seat. ICE described the arrangement as part of a plan to apply on-chain infrastructure to trading, settlement and capital formation. OKX serves more than 120 million customers worldwide.

Trade specifics including contract size, leverage tiers, fees and an exact launch date were not disclosed. OKX previously listed USDT-margined oil perpetuals tied to Brent and WTI-linked benchmarks earlier this year.

Market conditions have helped prompt the listing. Brent crude recently traded above $100 a barrel, roughly 50% higher than pre-conflict levels. The 2026 Iran conflict and tensions in the Strait of Hormuz have contributed to supply concerns and higher prices.

Trading desks faced disruptions during recent geopolitical shocks when some traditional venues were closed on weekends. Perpetual contracts allow continuous trading so retail flows can react immediately to tanker movements, ceasefire reports and other rapid developments.

ICE Senior Vice President Trabue Bland described the contracts as giving OKX users access to “deep, liquid, transparent, and global oil markets” by anchoring prices to ICE benchmarks. Star Xu, founder and CEO of OKX, said the listing is intended to make energy markets more digital and consistently available to the exchange’s users. OKX Global Managing Partner Haider Rafique said wrapping Brent and WTI in a perpetual structure lets retail traders access regulated energy benchmark products through OKX.

Market participants will watch initial launch volumes, price behavior on weekends and any changes in price discovery once retail traders can access nonstop trading.