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An EnCana pump jack stands near Rockyford, Alberta, in this June 30, 2009 file photo.
An EnCana pump jack stands near Rockyford, Alberta, in this June 30, 2009 file photo.
(Todd Korol/Reuters)

Introducing Edmonton Sweet, the latest in oil futures

Canadian forecasts call for production of light oil from shale formations to keep growing following years of decline. Now, companies will be able to lock in the selling price of their output of such crude, or hedge, with a futures contract tailored to it.

CME Group, which operates the New York Mercantile Exchange, will list an Edmonton Sweet futures contract on Dec. 16. Its specifications will be closely linked to such increasingly important crude streams as Alberta Viking as well as Saskatchewan and North Dakota Bakken.