Abu dhabi’s murban futures contract ready to launch

摘要

Abu Dhabi is preparing to launch a new futures contract, which will signifcantly change the way it prices term exports of its fagship Murban crude. Trade of the new Murban crude futures contract on the Ice Futures Abu Dhabi (IFAD) exchange is expected to begin on 29 March, with June likely to be the front-month contract. “We have received approval from the Bank of England, the Monetary Authority of Singapore, plus other approvals. The number of jurisdic-tions is growing. The distribution network is ready to go,” Ice Futures Europe president Stuart Williams said at the Gulf Intelligence Global UAE Energy Forum. Abu Dhabi produces more than 1.6mn b/d of light sour Murban, of which 1.1mn b/d is shipped to a mix of Asian refners.