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Commodities Briefing - Categorized | Oil, Trading more

Oil boss urges overhaul of Brent oil price benchmark

Posted on 20 February 2014

The head of the world’s largest oil trading firm has called for an overhaul of the Brent Crude benchmark oil price. Ian Taylor, the chief executive of Vitol, says Brent is no longer efficient as a price and should include other global oil grades.
A leading oil analyst at Citigroup, Seth Kleinman, has also called Brent a “broken” benchmark. Platts, the price reporting agency, says change may be necessary, but not yet………………………………………..Full Article: Source


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