![Risk.net](https://www.risk.net/sites/default/files/styles/print_logo/public/2018-09/print-logo.png?itok=1TpHrpuP)
DME reveals initial volumes
The Dubai Mercantile Exchange (DME) has revealed volumes from its first two trading days.
On June 1, the DME’s opening day, 2,889 contracts were traded, and on the second, a total volume of 4,008. The Oman crude oil futures contract traded 2,534 contracts in its first trading session, then 2,827 in the second. Second-day volumes for the WTI-Oman spread and the Brent-Oman spread stood at 550 and 631 contracts respectively.
Speaking about the volume increases, Gary King, CEO of the DME, says: “This shows the incredible support we have received from our members and the industry as a whole.”
As of Monday, June 4, the exchange-wide open interest was at 617 contracts.
The DME offers trading in three contracts: Oman crude oil futures and two financially settled futures contracts, the Brent-Oman spread and the WTI-Oman spread.
The first daily settlement price of the Oman contract is $64.09. This will be the first price used by the Sultanate of Oman’s Ministry of Oil and Gas in calculating its Official Selling Price (OSP). The Ministry’s pricing formula will be the average of the Oman crude oil futures contract’s daily settlement prices over each calendar month. The average set in June will price Oman’s August cargoes.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Energy
Energy Risk Commodity Rankings 2024: markets buffeted by geopolitics and economic woes
Winners of the 2024 Commodity Rankings steeled clients to navigate competing forces
Chartis Energy50
The latest iteration of Chartis’ Energy50 ranking
Energy trade surveillance solutions 2023: market and vendor landscape
The market for energy trading surveillance solutions, though small, is expanding as specialist vendors emerge, catering to diverse geographies and market specifics. These vendors, which originate from various sectors, contribute further to the market’s…
Achieving net zero with carbon offsets: best practices and what to avoid
A survey by Risk.net and ION Commodities found that firms are wary of using carbon offsets in their net-zero strategies. While this is understandable, given the reputational risk of many offset projects, it is likely to be extremely difficult and more…
Chartis Energy50 2023
The latest iteration of Chartis' Energy50 2023 ranking and report considers the key issues in today’s energy space, and assesses the vendors operating within it
ION Commodities: spotlight on risk management trends
Energy Risk Software Rankings and awards winner’s interview: ION Commodities
Lacima’s models stand the test of major risk events
Lacima’s consistent approach between trading and risk has allowed it to dominate the enterprise risk software analytics and metrics categories for nearly a decade
2021 brings big changes to the carbon market landscape
ZE PowerGroup Inc. explores how newly launched emissions trading systems, recently established task forces, upcoming initiatives and the new US President, Joe Biden, and his administration can further the drive towards tackling the climate crisis