DME sets multiple records in January
DME, the premier international energy futures and commodities exchange in the Middle East, announced today a set of records for the month of January 2016.
The Exchange signed up a brand-new record for physical distribution quantities of 27.3 million bl for March filling (previous record was 22.5 mn bl in March 2015), and 4 successive open interest records for its Oman Crude Oil Futures agreement peaking at 36,109 agreements.
The Exchange also saw traded volumes enhance by 17 % year-on-year amidst solid interest in the DME Oman agreement from office and monetary companies worldwide.
Owain Johnson, Managing Director, DME stated: "We are delighted to begin 2016 with these documents. Today's unstable markets validate the demand for a regulated exchange that supplies danger administration and hedging options in this part of the globe. We are seeing a developing appetite amongst oil sellers and customers to trade as well as get oil provided with DME, the only regulated energy exchange in one of the greatest oil making areas.".
Johnson added: "DME plays a significant duty today as a trusted prices point for Middle East crude oil going east. Our expanding customer base have confidence in the transparency of the benchmark and also its capability to catch the genuine supply-demand scenario in the East of Suez market.".
