Dubai oil futures set for May debut

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The Dubai Mercantile Exchange (DME) will launch its first three Middle East crude oil futures contracts on May 1, following the completion of its new trading floor last month. The aim is to establish liquid crude contracts that trade in an Asian time zone.

The three contracts will be a physically delivered Oman sour crude oil futures contract and two financially settled contracts, a Brent-Oman spread contract and a West Texas Intermediate (WTI)-Oman spread contract.

In early March the DME also

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