St Petersburg International Mercantile Exchange plans Ural oil contract this year
Russia plans to launch later this year its
first domestic crude oil contract in a bid to establish a
Russian benchmark and break its reliance on the European
St Petersburg International Mercantile
Exchange, which has offices in St Petersburg and Moscow, is
said by sources to be planning to launch in the second half of
this year a deliverable Ural crude oil futures contract, the
first contract that allows traders to speculate on the price of
the Russian standard.
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