UAE- Oman Crude Oil Financial Contract closes at US32.80

3/1/2016 5:27:54 AM

(MENAFN- Emirates News Agency (WAM))

DUBAI 1st March 2016 (WAM) -- The price of Oman crude Oil financial Contract DME Oman for May delivery closed at US$32.80 a barrel at Dubai Mercantile Exchange at 12:30 p.m. Dubai time.

DME Oman crude oil is 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. It 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.

WAM/Esraa/Moran

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