VOL. XLIV

No 38

17-September-2001

OIL PRICES

Nymex Reports Bright Start ToBrent Crude Trading

Nymex began trading Brent crudeoil futures on 5 September, the latest step in what appears likely to escalate intobitter competition between the New York and London petroleum exchanges. TheNymex decision to trade Brent followed the IPEs rejection of a takeover bid byNymex and the setting up of a joint venture between IPE and theIntercontinental Exchange which is expected to lead to large-scale electronic...