Difference between revisions of "Middle East crude oil futures"

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The fierce energy-market rivalry between the Nymex and the ICE shifted to Middle East crude in 2007 as both exchanges backed a fresh effort to establish a new benchmark.
The fierce energy-market rivalry between the Nymex and the ICE shifted to Middle East crude in 2007 as both exchanges backed a fresh effort to establish a new benchmark.


The [[ICE Middle East Sour Crude futures]] contract was launched on May 21, 200, an an electronically-traded, cash-settled product based on crude oil from Dubai, Oman and Upper Zakum, which originates in Abu Dhabi. The contract is settled against the Platts Dubai physical cash price assessment<ref>{{cite web|url=https://www.theice.com/publicdocs/futures/ICE_Middle_East_Sour_Crude_Futures_Spec.pdf|org=ICE|=name=ICE|name=Contract Specifications|date=December 14, 2007}}</ref>.
The [[ICE Middle East Sour Crude Oil]] futures contract was launched on May 21, 200, an an electronically-traded, cash-settled product based on crude oil from Dubai, Oman and Upper Zakum, which originates in Abu Dhabi. The contract is settled against the Platts Dubai physical cash price assessment<ref>{{cite web|url=https://www.theice.com/publicdocs/futures/ICE_Middle_East_Sour_Crude_Futures_Spec.pdf|org=ICE|=name=ICE|name=Contract Specifications|date=December 14, 2007}}</ref>.


The Nymex product traced its roots back to co-operation with the governments of Dubai and Oman to create a benchmark using the Dubai-Oman price for crudes sold in the Asia-Pacific market.
The Nymex product traced its roots back to co-operation with the governments of Dubai and Oman to create a benchmark using the Dubai-Oman price for crudes sold in the Asia-Pacific market.
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