The
price of Oman Crude Oil Financial Contract, DME Oman, closed at US$46.80 a
barrel for November delivery, at Dubai Mercantile Exchange at 12:30 p.m., Dubai
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 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. –End-
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