Ice to launch ASCI contracts

The new cleared oil contracts will include a differential calendar swap contract and a differential trade-month swap contract based on the ASCI and available from November 13.

Saudi Aramco, the national oil company of Saudi Arabia, announced on October 29 that it would use the ASCI as a benchmark for pricing transactions with US customers. It previously used WTI prices published by Platts. Following Saudi Aramco's annoucement, Nymex published launch details for two ASCI contracts.

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