DME Oman Oil Futures Post Record Volume

DUBAI - Oman crude futures traded at the Dubai Mercantile Exchange Ltd (DME) reached a milestone, posting a record high of 6,484 contracts on January 13 — a hefty increase of 35 per cent from the previous record of 4,819 contracts last November 18, 2008.

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Published: Sat 17 Jan 2009, 12:51 AM

Last updated: Sun 5 Apr 2015, 9:36 PM

The 6,484 Oman futures contracts set a new record for the volume of contracts traded on the exchange in a single day, the DME said in a statement. “This achievement underlines the global recognition of the DME Oman crude oil futures contract as the third global benchmark for crude oil. The continued growth of this DME contract highlights the market’s desire for transparency and fair value in the pricing of crude oil for the East of Suez markets,” DME chairman Ahmad Sharaf said.

· rocel@khaleejtimes.com


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