IPE Shortens Trading Hours for Benchmark Crude Oil Co

IPE Shortens Trading Hours for Benchmark Crude Oil Contract
2001-11-02 10:36 (New York)

London, Nov. 2 (Bloomberg) -- The International Petroleum
Exchange in London as of Monday will shorten the trading day for
its Brent crude oil contract, the benchmark for two-thirds of the
world's oil.
For the rest of the year, trading will end at 7:30 p.m.,
rather than 8:13 p.m. normally. The early close is at the request
of industry, Jenny McLaughlin, the IPE's spokeswoman, said. The
Brent contract is the only one affected by the decision.
The move follows one from the New York Mercantile Exchange,
which will maintain a shorter working day introduced following the
Sept. 11 attacks on New York.

--Thomas Tugendhat in the London newsroom (44) 20 7673 2178, or
ttugendhat@bloomberg.net/tc

Story illustration: For a tour of crude oil prices in London and
New York over the past year, enter: {CNP 08521810101 <GO<}.

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-0- (BN ) Nov/02/2001 15:36 GMT