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Article: Industry applauds Nymex plans to drop 2.7% oxyfuels contract. (New York Mercantile Exchange plans to drop winter oxygenated gasoline contract)
- Article from:
- The Oil Daily
- Article date:
- December 7, 1995
- Author:
CopyrightCOPYRIGHT 1995 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Reports Wednesday that the New York Mercantile Exchange (Nymex) will drop winter oxygenated gasoline specifications for the New York Harbor (NYH) unleaded gasoline contract received a positive response from industry sources.
"Anything [Nymex] can do to simplify the contract would be beneficial," one broker said.
Nymex's products advisory committee recommended that the exchange drop the 2.7% oxygen specification and revert to a standard 2% oxygen reformulated gasoline (RFG) contract year-round, sources said.
The 2% oxygen contract -- to begin in October 1996 -- would abandon the current oxyfuels season that runs from November to the end of February.
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