Attacks on Israel by Iran cause limited damage but actions by the parties will hit energy markets, halt Iran nuclear plans
Murban crude oil in Abu Dhabi that usually trades at around $3 a barrel below dated Brent crude was trading at $90 a barrel on April 14 after Iran launched its first ever direct state-on-state attack on Israel using drones and cruise missiles, indicating that oil and gas prices in Europe will rise on Monday April 15, though the increase in Brent price could be limited to under $95 a barrel because of previous factoring in of the ongoing crisis.
Abu Dhabi prices plan
Oct 13 (LNGJ) - Intercontinental Exchange, a leading operator of global exchanges and clearing houses and provider of energy data for LNG and natural gas prices and futures, has provided an update on its plans to launch ICE Futures Abu Dhabi (IFAD), the world’s first futures contracts based on Murban crude oil from the United Arab Emirates. “Subject to the completion of regulatory approvals, ICE plans to launch IFAD and trading in Murban futures contracts late in the first quarter of 2021. A more specific date for the launch of trading will be announced in due course,” stated the Atlanta, Georgia-based company.
In November 2019, ICE announced its plans to launch IFAD, with the Abu Dhabi National Oil Company and nine of the world’s largest energy traders partnering with ICE on the launch. ICE Murban Futures will be a physically delivered contract with delivery at Fujairah in the UAE on a free-on-board (FOB) basis. ICE Murban Futures will be complemented with a range of 18 cash-settled derivatives which IFAD plans to launch for day one of trading.
