VOL. XLIV

No. 17

23-April-2001

CRUDE OIL/LPC PRICES

NYMEX Votes To Trade Brent Crude But Ends Middle East Sour Crude Contract

In a bid to take a share in the Brent crude futures market, currently dominated by Londons IPE, the NYMEX board of directors voted on 11 April to develop a 15-day Brent crude contract. The move marks the latest escalation of direct competition between the two exchanges, and follows a number of rejected attempts by NYMEX to take over the IPE.

NYMEX has long held ambitions to...