VOL. XLIII

No. 16

17-April-2000

OPEC

NYMEX To Launch Middle Eastern Sour Crude Oil Futures Contract

The New York Mercantile Exchange (NYMEX) plans to launch on 4 May a Middle Eastern sour crude oil futures contract, which is intended to enable traders and petroleum companies, particularly in Europe and the Far East, to hedge their futures positions. A NYMEX official told MEES that this will be the exchanges first foreign delivery crude oil contract, with all its others using Cushing, Oklahoma, as...