Middle East Economic Survey

VOL. XLVIII

No 38

19-September-2005

Nymex Revives Open Outcry Oil Trading In London

Nymex opened a new oil exchange in London on 12 September, bringing open outcry trading back to the city after the IPE completed a transfer to electronic trading on 7 April (MEES, 14 March). IPEs closure of its Brent crude and gasoil open outcry pits was unpopular with small independent traders, and Nymexs move into London was aimed at increasing competition with the IPE over Brent crude...