The wait is nearly over, with the eagerly anticipated Murban futures contract going live on 29 March. In releasing pricing of its flagship crude grade to market forces, Adnoc is taking a momentous step which it expects will enable it to capture more value from each barrel of oil produced.
The Murban futures contract will be traded on ICE Futures Abu Dhabi (IFAD), with buyers taking delivery at the Indian Ocean port of Fujairah. The first tradable contract will be for June, with that month’s contract expiring at the end of April. This will then set the June Murban OSP. (CONTINUED - 1090 WORDS)
