The UAE potentially made history today when it sounded the starting pistol for its Murban crude oil futures, to be traded on the brand new ICE Futures Abu Dhabi exchange. The price for what the UAE hopes to become a regional benchmark stood at $63.93 a little after midnight GMT, Reuters reports, adding that 2,132 lots of 1,000 barrels each were traded by that time, according to an ICE tweet. The launch of the Murban futures is part of the UAE’s attempt to revolutionize trade in Middle Eastern oil. Per a Bloomberg report, the introduction…
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