Dubai exchange plans jet fuel contract

The Dubai Mercantile Exchange (DME) and Emirates National Oil Company (ENOC) plan to jointly develop the first exchange-traded jet fuel futures contract. The contract should be listed on the DME by the end of the year and traded in 2007.

Hussain Sultan, group chief executive of ENOC, says: "We are well placed to work with the DME and collaborate with the jet industry to create a successful, liquid risk management tool for the airline industry refineries and other energy players."

The DME has a

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