ICE Murban Crude Oil Futures began trading on 29 March in a major step for Abu Dhabi energy giant Adnoc, which has released control of pricing its flagship crude grade to the futures market (MEES, 12 March). The first tradeable month is June 2021.

ICE Futures Abu Dhabi (IFAD) President Jamal Oulhadj said “The depth of market activity on our first day of trading is extremely encouraging. On the first day of the launch we saw active trading, consistently tight bid offer spreads, a high number of participants from both the physical and financial sides of the market, and liquidity out for the first six months of the curve.” (CONTINUED - 235 WORDS)