Middle East Economic Survey

VOL. LII

No 47

23-Nov-2009

OIL PRICES

CME And ICE Launch ASCI Sour Crude Futures Contracts

Chicago-based CME Group, which owns and operates the New York Mercantile Exchange (Nymex) on which WTI crude is traded, and Londons Intercontinental Exchange Inc (ICE) have announced that they will launch futures contracts for Argus Sour Crude Index (ASCI) futures contracts. Saudi Aramco announced last month that, as of January 2010, it would begin to use ASCI, which is published...