Two of the most important crude oil futures benchmarks are Brent, which trades on the Intercontinental Exchange (ICE) in London and West Texas Intermediate (WTI) which trades on the New York Mercantile Exchange (NYMEX) in New York. Today, price for Russian oil exports are set according to the Brent price in as traded London and New York. With the launch of Russia's benchmark trading , that is due to change, likely very dramatically. The new contract for Russian crude in rubles, not dollars. RUSSIA BREAKING WALL STREET OIL PRICE MONOPOLY. By F. William Engdahl on New Eastern Outlook www.journal-neo.org