First Argus-based EU ethanol swap completed

In the UK, the first Argus-based European ethanol swap was traded on Tuesday. The December swap for 1,000m3 was sold by AOT to Total at $695/m3 and brokered by Prebon. Argus biodiesel assessments have been used in contracts since 2008 and a liquid swaps market has developed, which is priced against the physical trade and reported by Argus. The company hopes the same swap market will develop with ethanol.

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