The major oil futures markets in the world include the New York Mercantile Exchange, London International Petroleum Exchange and Tokyo Industrial Products Exchange, which emerged in recent two years.

In 2003, the trading volume of energy futures and options in the New York Mercantile Exchange exceeded 6,543.8 billion lots, accounting for 60% of the total of the three major energy exchanges. WTI, which is listed and traded, is the largest commodity futures in the world and one of the most important pricing benchmarks in the global oil market.

Brent crude oil in the North Sea traded on the London International Petroleum Exchange is also one of the most important pricing benchmarks in the world, and about 50% of the world's crude oil transactions are priced with reference to Brent crude oil.