The volatility in the crude oil market has intensified, with the Gate XTI contract ranking first in global trading volume

Due to the ongoing tension in the Middle East and the potential risk of a blockade in the Strait of Hormuz, the energy market has experienced increased volatility. WTI crude oil (XTIUSDT) briefly surged to 100.86 USDT during trading before quickly falling back to 92.68 USDT, and then maintained a fluctuating recovery trend, currently reported at 95.91 USDT, with a 24-hour decline narrowing to 2.78%.

According to data from the CoinGlass platform, the total contract trading volume for XTI across the network reached 17.65 million US dollars in 24 hours, a year-on-year decrease of 35.51%; among them, the Gate platform had a 24-hour contract trading volume of 10.97 million US dollars, ranking first in the world.

Gate has taken the lead in oil contracts, pioneering the commodity contract sector, covering XBRUSDT (Brent crude oil) and XTIUSDT (WTI crude oil) perpetual contract trading, providing 24/7 trading, USDT settlement, and up to 100 times leverage, helping users with cross-market asset allocation and strategic layout in volatile markets.