Published On: Tue, Jan 13th, 2015

Oman Crude Oil Futures Contract closes at US$45.65 a barrel at Dubai Mercantile Exchange

DME Oman Crude Oil Futures Contract closes at US$45.65 a barrel at Dubai Mercantile Exchange

Oman Crude Oil Futures Contract closes at US$45.65 a barrel at Dubai Mercantile Exchange

The price of DME Oman Crude Oil Futures Contract went down by US$2.01, closing at US$45.65 a barrel for March delivery, at Dubai Mercantile Exchange at 12:30 p.m., Dubai time.

DME Oman crude oil is considered a benchmark for pricing crude oil by the countries that produce it, and it gives them a differential price that reflects the quality of the product.

The Dubai Mercantile Exchange Limited, DME, is the premier energy-focused commodities exchange East of Suez, and home to the world’s third crude benchmark.

DME is a joint venture between Dubai Holding, Oman Investment Fund and CME Group. A number of global financial institutions and energy trading firms have equity stakes in the DME, providing the exchange with a resounding vote of confidence by major players in global energy markets.

Source : WAM News Agency for United Arab Emirates

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