Nymex pit opens in London

The exchange brings open-outcry trade in energy futures back to the City for the first time since the closure of the International Petroleum Exchange’s floor four months ago. By the close of trading, Nymex Europe's Brent crude oil futures contract reached an estimated volume of 16,591 contracts.

“Open outcry is back in London,” announced Mitchell Steinhause, vice-chairman of Nymex Europe, before ringing the opening bell. “Open outcry is our lifeblood,” he stressed, adding his belief that energy

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