[ad_1]
Dated:
July 30, 2019
The Dubai Mercantile Exchange (DME) today announced a record quarterly increase of 45% in the volume of its futures trading, as well as a 33% increase in average daily volume in the first half of this year. The volume of contracts traded at future prices is established at 208,997 contracts from April to June, compared to 143,703 contracts in the first quarter.
The average daily volume went from 5,024 contracts in January to 6,695 in June of this year. Future prices represent the prices of Oman futures for the coming months and allow customers to protect themselves against the risk of Omani crude price fluctuations in the future.
The average daily volume of futures prices, from the first to the seventh month, was 6.1 million barrels in June, compared with 3.5 million in June 2018.
This evolution is crucial since national oil companies, such as Saudi Aramco, have begun to approve Oman's futures contract with the Dubai Mercantile Exchange as part of its crude oil pricing mechanism. The Oman Stock Exchange has delivered 150 million barrels in the first six months of the year.
MENAFN2907201901100000ID1098819178
Source link
