VOL. XLIII

No. 22

29-May-2000

SAUDI ARABIA

Market Makers And IPE Plan Informal Talks Over Saudi Crude Hedging Mechanism

Following the recent move by European buyers of Saudi crude to set up a new hedging mechanism to protect themselves against variations in the Brent Weighted Average (BWAVE) benchmark in relation to the Dated Brent datum, MEES understands that the market makers and Londons International Petroleum Exchange (IPE) plan an informal meeting soon to discuss the new instrument, called a...