Dubai Sets Oil Delivery Prices for June

Dubai Sets Oil Delivery Prices for June

The official price of the Dubai crude oil barrel for delivery in June will be $0.20 less than the average daily settlement price of the Oman Crude Oil Financial Contract in Dubai Mercantile Exchange (DME Oman) contracts traded over April, Emirates 24/7 reported, citing the data from the Department of Oil Affairs of Dubai Government.

As Zawya explained, the official monthly price of Dubai crude is determined in advance. A differential price is placed three months (M-3) in advance, while the official final monthly price is determined at the end of the second month (M-2).

Furthermore, the Department of Oil Affairs’ Director-General, Abdullah Abdul Karim, stated that the price of Dubai crude in the markets is set in parallel with Oman oil prices, reinforcing the transparency of pricing process commitment and setting a fair value for crude oil in the Middle East.

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.

DME Oman is the premier energy-focused commodities exchange in the East of Suez, and home to the world’s third crude benchmark.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password