UAE oil benchmark plan confused by Brent comment U-turn - Reuters:
A United Arab Emirates plan to launch its own global oil benchmark was thrown into confusion on Tuesday after comments made by its own national oil company.
ADNOC first said it sees Murban as a contract to replace the global Brent benchmark, only to retract the comment.
The development highlights a complex nature of Abu Dhabi National Oil Company’s (ADNOC) Murban futures contract.
It will be traded on a new local exchange, ICE Futures Abu Dhabi (IFAD), that will be co-owned by Abu Dhabi, several oil majors and the Intercontinental Exchange Inc, which is also home to Brent trading.
No comments:
Post a Comment