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DUBAI: The Dubai Mercantile Exchange launched a bilateral platform to trade multiple Middle East oil grades priced against DME’s Oman crude futures. It offer traders the opportunity to trade bilateral barrels of Dubai, Upper Zakum, Murban, Basrah Light, Basrah Heavy, Al Shaheen and Oman versus the DME Oman Sour Crude Benchmark futures, the exchange said in a statement on
DME launches Mideast crude trading platform issacjohn@khaleejtimes.com Filed on April 5, 2021 The new service offered by DME will shed the light on the growing importance and the status of DME Oman as a strong and reliable Benchmark for the Middle East, representing consistent fair value for Sour Crude barrels to the East of Suez. — Supplied photo The Alternative Crude Ecosystem (ACE) is a bilateral trading platform that enables participants to trade multiple crude grades through the exchange The DIFC-based Dubai Mercantile Exchange announced on Monday the launch of a new platfo...
Source: author, based on Thomson Reuters data. Today Europe’s share is half of what it was 3-4 years ago in absolute terms. Asia’s share, however, has risen in both absolute and relative terms. We have already touched upon the relative numbers, but the absolute volumes are just as indicative - Asia’s rise in importance for Iraq happened against the background of average annual exports dropping from 3.43mbpd in 2018 to 2.94mbpd in 2020. Iraqi exports to Asia (including Kirkuk) have averaged 2.3mbpd last year – of this, China and India alone account for almost 2mpbd, with 1.05mbpd and 0...
On the heels of Biden's big blowout, the dollar is tumbling...(biggest 3-day slump since the election/vaccines in early Nov)... Source: Bloomberg And bitcoin surged back up near $58,000, erasing the losses from its record highs in mid-Feb... Source: Bloomberg Did Washington just 'cut the rope' from reality? On Thursday China's parliament approved a resolution to impose sweeping changes on Hong Kong's electoral system which is ultimately aimed to ensure that mainland loyalists are in firm control of running the city. The new requirement of "patriotism" to run for Hong Kong's legislature mean...
REFINERY NEWS ROUNDUP: More closures likely in Asia-Pacific After two refineries in Australia have announced plans to close, Ampol, formally known as Caltex Australia, said it will complete the comprehensive review of its Lytton refinery by the end of H1 2021, which would provide an indication on the refinery’s future. The company has said previously that “the review will consider all options for the facility’s operations and for the connected supply chains and markets it serves.” Meanwhile refineries in India have ramped up runs but are still running below pre-pandemic levels. India...