Thu 18-05-2017 15:22 PM
DUBAI, 18th May, 2017 (WAM) -- The price of Oman Crude Oil Financial Contract, DME Oman, for July delivery, closed at US$51.08 a barrel at Dubai Mercantile Exchange at 12:30, 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 is a premier energy-focused commodities exchange, 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.