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Crude benchmarks stall

by ArabianBusiness.com staff writer  on Thursday, 06 September 2007

Attempts to create benchmark futures contracts to trade Middle East crude oil are struggling having failed to impress potential investors.

The Dubai Mercantile Exchange and US-based InterContinental Exchange launched rival contracts three months ago, but trading volumes in both vehicles fell off in August.

They are not expected to recover significantly.

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The widespread lack of interest, notably from Asian refineries, has so far prevented the creation of a Middle East benchmark capable of competing with Brent and West Texas Intermediate.

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  1. Qatar's Energy City plan 'not affected' by global crisis 1
    08 Jan ' 09 at 10:12
    From Maritime city in Dubai to Energy city in Qatar to Economic city in Saudi, now all we need is a rail network between GCC countries!  More »
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