DME Oman crude futures slip to US$31.95/b

DUBAI, 23rd December 2015 (WAM) --- The price of Oman Crude Oil Financial Contract on the Dubai Mercantile Exchange (DME Oman) for delivery in April, on Thursday slipped US$0,57 closing at US$31.95/barrel at 12:30 p.m., Dubai local time. DME Oman crude oil is considered a benchmark for pricing crude oil by the countries that produce it, and it gives them a differential price that reflects the quality of the product. The Dubai Mercantile Exchange Limited (DME) is the premier energy-focused commodities exchange in the East of Sues, and home to the world's third crude benchmark. DME is a joint venture between Dubai Holding, Oman Investment Fund and CME Group. A number of global financial institutions and energy trading firms have equity stakes in the DME, providing the exchange with a resounding vote of confidence by major players in global energy markets. – Emirates News Agency, WAM - http://www.wam.ae/en/news/economics/1395289547936.html