UAE- Oman Crude Oil Financial Contract closes at US45.86

5/18/2016 7:40:23 AM

(MENAFN- Emirates News Agency (WAM))

DUBAI, 18th May, 2016 (WAM) -- The price of Oman crude Oil financial Contract, DME Oman, for July delivery, closed at US$45.86 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

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.