Public consultation begun on using Murban as Oman futures alternative

摘要

On April 9,it had been reported that the Dubai Mercantile Exchange(DME)applied to introduce Abu Dhabi's Murban crude as an alternative delivery grade for its Oman futures contract.On April 22,the DME announced a public consultation period had begun on adding Murban,which could expand the contract's delivery mechanism by 700K b/d.Preliminary regulatory approval has already been granted.The DME has been considering adding an alternative grade for delivery against the futures contract for the sake of managing price volatility,which commonly occurs when traders attempt to cover outstanding positions near the expiration of a monthly contract.Saudi Arabia,Dubai,Oman,and Bahrain use the DME Oman futures contract as the benchmark for their official selling prices to Asia.