Crude-oil benchmarks' ties go awry

June 2007
Hill;6/19/2007, Vol. 14 Issue 73, p26
The article focuses on the traditional relationship between regional crude-oil benchmarks in the U.S. and Europe. The main regional benchmark for the U.S. is the futures contract for light crude oil of the New York Mercantile Exchange, against which physical delivery can be made at the pricing hub of Cushing, Oklahoma. Meanwhile, the Intercontinental Exchange in Europe gives a successful cash-settled Brent futures market, while the main physical benchmark is the physical crude Dated Brent.


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