Oman Crude Oil financial contract closes at $40.56

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Dubai, April 13 (IANS/WAM) The price of Oman Crude Oil Financial Contract, DME Oman, for June delivery, closed at $40.56 a barrel at Dubai Mercantile Exchange.

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.

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.

–IANS/WAM

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