DME August Oman crude trades above $40/b, first time in three months – ZAWYA

DME August Oman crude trades above $40/b, first time in three months – ZAWYA

Front-month August DME Oman traded at a high of $40.09/b, up $0.30/b from Friday's settlement price of $39.79/b.. Middle East prices have recovered faster than those in Europe, with DME Oman trading at around $2/b over the Brent North Sea benchmark on Monday.. Reflecting the economics of the Asian region like no other contract, and the largest physically delivered crude oil futures contract in the world, DME Oman is the world's third crude oil benchmark and the sole benchmark for Oman and Dubai exported crude oil.. The Exchange is located within the Dubai International Financial Center (DIFC), a financial free zone designed to promote financial services within the UAE.. The DME is regulated by the Dubai Financial Services Authority and all trades executed on the DME are cleared through and guaranteed by CME Clearing.. The contents of the press release was provided from an external third party provider..