Derivatives exchange CME Group is waiving the fees for dealing in the North Sea crude oil, Financial Times reports. The bourse is eyeing a bigger Brent oil market share and seeking to attract investors leaving its flagship West Texas Intermediate (WTI) contract.
The move to encourage Brent trading comes as many investors, including Morgan Stanley and JP Morgan, have dropped WTI. Brent is the benchmark oil contract of London-based ICE Futures Europe.
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