DME announces record Oman Crude Future sales
Sales are equivalent to 31.5mn barrels of Oman crude oil
DME has announced today a new open interest record for its flagship Oman Crude Oil Futures contract of 31,492 lots, which is equivalent to 31.5mn barrels of Omani crude oil.
The previous record was set on 28 Aug 2015 when open interest was 27,107 lots.
Owain Johnson, managing director, DME said: “The new record today indicates that our offering is highly appreciated by major global commercial players.
“We have witnessed strong physical delivery volumes recently and this is due to the ever-growing appetite among oil traders to trade the DME Oman contract, both to participate in price discovery and also in physical delivery through the exchange.”
DME recently registered a 30% increase year-on-year in physical delivery volumes with a total of 229,039,000 barrels shipped during 2015 compared to 176,514,000 barrels in 2014