MUSCAT: Dubai Mercantile Exchange (DME), the premier international energy futures exchange in the Middle East, has recorded an 18% increase year-on-year in physical deliveries, along with 15% increase in trading volumes, during the first half of 2023, compared to the same period last year.
The DME Oman contract continued to attract a diverse range of participants from around the world, underscoring its status as the main crude oil benchmark in the East of Suez market. DME Oman front-month trading volumes have increased from 361 million barrels in the first six months of 2022 to 415 million barrels for the same period in 2023, while physical delivery volume reached 106 million barrels from March to August 2023 compared to 90 million barrels for the same period in 2022. Raid al Salami, Managing Director, DME, said: “The first half of 2023 has been exceptional for DME. Our unwavering dedication to transparency and customer service has driven our strong performance. As we move forward, we remain committed to providing our participants with the tools and opportunities they need to navigate the ever-changing energy landscape. We remain optimistic about the remainder of 2023. We expect to build upon the same momentum and to continue to deliver value to our stakeholders.”