GME records strongest trading week in two decades with 69 million barrels of Oman crude traded

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GME records strongest trading week in two decades with 69 million barrels of Oman crude traded

Dubai-based Gulf Mercantile Exchange (GME) has announced the highest weekly trading volume in its history, with more than 69,052 contracts traded during the week beginning 11 May 2026 — equivalent to approximately 69 million barrels of Oman crude oil.

The milestone represents the strongest weekly trading performance recorded by the exchange in nearly two decades and highlights the growing global importance of GME Oman Crude Oil Futures as a benchmark for Middle East crude pricing and energy risk management.

According to Gulf Mercantile Exchange, the surge in trading activity comes amid heightened geopolitical tensions, changing global trade flows, and increased volatility across international energy markets. The exchange said the latest figures demonstrate continued market reliance on transparent and physically deliverable crude oil benchmarks during periods of uncertainty.

Raid Al-Salami, Managing Director of Gulf Mercantile Exchange, said the record trading volumes reflect growing confidence in the exchange’s benchmark products.

“This reflects the market’s growing confidence in GME Oman as a trusted benchmark and risk management tool for global energy participants.”

He added:

“In times of geopolitical uncertainty and rapidly changing market conditions, transparent and physically deliverable benchmarks become increasingly important. The strong participation and record trading activity seen this week demonstrate the continued relevance, resilience, and strategic importance of GME Oman within the global crude oil ecosystem.”

Since its launch, Gulf Mercantile Exchange has traded more than 23 billion barrels of Oman crude oil and facilitated the physical delivery of over 3 billion barrels, reinforcing its role as a major pricing reference for Middle East crude exports to Asian markets.

The exchange said it remains focused on strengthening market transparency, supporting regional benchmark development, and expanding its position as a broader multi-commodity trading marketplace serving both the energy and industrial sectors.

The latest trading milestone also reflects the increasing strategic importance of Middle East energy benchmarks as global commodity markets continue adapting to evolving supply dynamics, geopolitical risks, and shifting demand patterns across Asia and other major energy-consuming regions.