UAE- DME Oman crude futures slip to US31.95b

12/22/2015 9:04:59 PM

(MENAFN- Emirates News Agency (WAM))

DUBAI 22nd December 2015 (WAM) --- The price of Oman Crude Oil Financial Contract on the Dubai Mercantile Exchange (DME Oman) for delivery in April on Thursday slipped US$057 closing at US$31.95/barrel at 12:30 p.m. Dubai local 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 in the 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.

WAM/MMYS

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