DME Oman front-month trading volumes soared by 22% year-on-year over the first half of 2024, rising to the highest level since 2H 2017 (see chart 1). Momentum has been building for some time as physical traders grow increasingly confident in the contract.
DME Oman Trades Soar As It Clinches Tadawul Investment
Buoyed with cash from an investment by Saudi Arabia’s Tadawul, the Dubai Mercantile Exchange has ambitious plans to become a regional exchange hosting contracts for a range of commodities. Its DME Oman crude oil exchange is hitting new heights as confidence in the contract grows.
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Charts
1: DME Oman Front Month Trading Volumes Jump To 7-Year High For 1h24 (mn bls)
2: DME Oman Physical-Related Volumes* Up 22% Year-On-Year For 1h24 (mn bls)
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