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Interesting comments from $CME on WTI vs. Brent question brought up by @aosipovich in their earnings call this morning:
"Commercial and end-user customers who participate in physical oil markets need the certainty that convergence provides so that they can optimally...
...manage their underlying risks. WTI futures settle with actual transactions that result in physical delivery as opposed to other products which are disconnected from the physical and settled via assessments."
"other products" = $ICE Brent futures... looking forward to hearing what $ICE has to say on the matter.
https://www.wsj.com/articles/negative-oil-prices-pose-headache-for-futures-giant-cme-11587547802 …
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