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The Price Of Oman Crude Oil Financial Contract Was Announced – US$25.40 a Barrel

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Oman

Oman Crude Oil Financial Contract closes at US$25.40

 

 

 

 

 

 

 DUBAI, 26th January, 2016 — The price of Oman Crude Oil Financial Contract, DME Oman, for March delivery, closed at US$25.40 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.

{Source: Emirates News Agency – WAM/Esraa/Moran/tfaham}

[photo credits-featured image: petrochemical tanks in Sohar, Oman-By octal (Flickr) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons]

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