05 September 2007 15:31 [Source: ICIS news]
SINGAPORE (ICIS news)--The Dubai Mercantile Exchange (DME) announced on Wednesday that trade volumes for all contracts including those for benchmark Oman crude oil futures hit a new record level yesterday.
Tuesday’s contracts totalled 8,036, compared with the previous record of 6,250 recorded on 7 June, a few days after the launch of the exchange.
Trade on the DME had eased off somewhat during July and August before recovering in recent days, the recovery aided by the first physical delivery of ?xml:namespace>
Some 4,000 August Oman futures contracts, equivalent to some 4m barrels of crude, went to physical delivery after the first expiry of the new futures contract on 29 June.
The physically deliverable DME Oman futures contract was launched in order to increase price transparency and provide a better risk management tool in the
Following the launch of the DME, the
The August OSP for
At the end of August, the October Oman OSP was calculated at $68.34/bbl.
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