April 22, 2019 / 9:14 AM / 2 months ago

DME starts consultation on adding Murban to Oman crude contract

SINGAPORE, April 22 (Reuters) -

* The Dubai Mercantile Exchange (DME) said on Monday it has started a public consultation on adding Abu Dhabi’s Murban crude as an alternative grade for delivery into its Oman crude futures contract

* The consultation comes after DME received preliminary regulatory approval, it said in a statement on its website

* Murban could add about 700,000 barrels per day to the volume of oil available for delivery on DME

* This will “reinforce the benchmark transparency and fair market value representation,” DME said

* The exchange may set price differentials to account for the difference in quality between the Oman and Murban grades, trade sources said earlier (Reporting by Florence Tan; Editing by Tom Hogue)

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