Murban futures cease to exist
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ADNOC issued a statement on Friday that effective 1st Nov 2026, the pricing basis to determine Murban OSP will be Platts Dubai + ADNOC-announced diff, and will be announced one month prior to the load month, aligning the timeline with how Saudi OSPs are announced.
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ICE Futures Abu Dhabi (IFAD) has suspended trading in all ICE Murban futures contract months with no open interest (OI), and will suspend the rest once it reaches scheduled expiry date or when OI falls to zero.
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Traders are anticipating Dubai liquidity to fall off as a result due to no more hedging flow.
About the Author
June Goh | Senior Oil Analyst, Sparta Commodities
June is a senior oil market analyst at Sparta specialising in global crude trade flows and refining economics across Asia and Europe. Her analysis is regularly cited by Bloomberg, the Financial Times, and Reuters. With a significant following in the energy community on X (@JuneGoh_Sparta), June’s insights are a staple for institutional traders navigating regional market shifts.
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Founded in 2020, Sparta made waves in the commodity analytics space in March 2022 when it secured a $6m series A investment from Singular. This success then later snowballed into a further $17.5 million in a series A funding round led by the technology venture capital firm FirstMark, with participation from existing shareholder, Singular.
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