Physical delivery hits 4000 mark on DME Oman contract
The Dubai Mercantile Exchange (DME) has revealed key statistics following the first full month of trading at the exchange. 4000 Oman crude oil futures contracts went for physical delivery in August, a figure that has, according to the DME, only been exceeded once, by Nymex’s WTI benchmark in January 1995.
The exchange reported a total of 58,365 contracts traded during June, of which 39,571 were Oman crude oil futures contracts, equivalent to 39,571,000 barrels of crude oil. 7,332 WTI-Oman spread contracts were traded, along with 11,462 Brent-Oman spread contracts.
At the termination of trading on June 29, exchange-wide open interest for all three listed contracts was 6,660, of which 6,467 was Oman crude, 15 WTI-Oman and 178 Brent-Oman.
“We have now been through one full cycle of trading and can
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