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Mideast oil benchmark fails to make a mark |
| Home | (The Australian) - TWO rival attempts to create a benchmark futures contracts to trade Middle East crude oil are struggling after attracting only poor investor interest. Trading volumes in the two contracts, launched three months ago, evaporated in August and traders said they were now unlikely to recover significantly after the holiday period. The failure to draw interest, in particular from Asian refineries, is the latest setback to create a Middle East benchmark that could compete with Brent and West Texas Intermediate. |