Oman oil futures have the potential to overtake the world's top two benchmarks and limited progress so far reflects the difficulty of changing the status quo, the head of the Dubai Mercantile Exchange said on Monday.
The DME launched its Oman contract in 2007 with the aim of challenging Brent LCOc1 and U.S. crude futures CLc1, also known as WTI, but so far that has not happened.
On Thursday, there were 9,516 open interest positions on the DME Oman Crude Oil Futures Contract, compared to a record of more than 1.6 million held in U.S. crude futures on the New York Mercantile Exchange, which is owned by the Chicago Mercantile Exchange (CME.O: Quote). DME is part-owned by the CME
No comments:
Post a Comment