DME Oman oil price falls 44 cents to US$109.22

DUBAI: The settlement price of Oman Crude Oil Futures Contract at Dubai Mercantile Exchange (DME Oman) on Monday at 12.30 pm local time fell 44 cents to stand at US$109.22 per barrel.

DME lists the Oman Crude Oil Futures Contract (DME Oman) as its flagship contract, providing the most fair and transparent crude oil benchmark for the region. The DME Oman is the explicit and sole benchmark for Oman and Dubai crude oil Official Selling Prices (OSPs) – historically established markers for Middle Eastern crude oil exports to Asia.

DME is the premier international energy futures and commodities exchange in the Middle East. It aims to provide oil producers, traders and consumers engaged in the East of Suez markets with transparent pricing of crude oil.

DME was launched in June 2007 with the goal of bringing fair and transparent price discovery and efficient risk management to the East of Suez.

SOURCE: WAM