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Saudi Aramco Drops WTI Peg.

Publication: APS Review Oil Market Trends
Publication Date: 02-NOV-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Saudi Aramco on Oct. 28 decided to drop the widely used WTI contract as the benchmark for pricing its export crude oils, dealing a serious blow to the New York Mercantile Exchange (NYMEX). The decision by the world's biggest oil exporter could encourage other producers to abandon this benchmark and threatens the dominance of the world's most heavily traded crude oil futures contract. It is the main...

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