Nymex to clear contracts on OTC oil and gas options

The first natural gas inventory auction is scheduled for June 2, ahead of the June 3 release of the gas storage figure by the Energy Information Administration (EIA) of the US Department of Energy. The first oil inventory auction has not yet been scheduled, but is expected to take place this summer.

The options will be traded through an auction format in which the options prices are based solely on the relative demand of participants – the more popular the strike, the greater its value.

The o

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