DME lists two new Middle East fuel oil derivatives

Thursday, Sep 22, 2016 Dubai: The Dubai Mercantile Exchange (DME), the international energy futures and commodities exchange in the Middle East, announced two new fuel oil contracts to hedge the price differentials between Middle East fuel oil and Singapore fuel oil. The contracts will be listed on the DME as Singapore vs Middle East Fuel Oil Spread Futures and Singapore vs Middle East Fuel Oil Spread Futures, and are available to trade immediately. The listings add a further tool for traders to hedge fuel oil in the Middle East region against Singapore fuel oil markets. Middle East fuel oil can also be hedged against the DME’s flagship Oman crude oil contract, with generous margin offsets available. “DME has been really pleased with the response to our initial Fujairah derivatives offering and so we are delighted to be expanding the range of Fujairah products that we offer. DME is committed to supporting the development of a vibrant derivatives market based around Fujairah assessments,” Owain Johnson, Managing Director, DME said in a statement. The new contracts complement the existing DME fuel oil contracts and will settle against the assessments provided by price reporting agency Platts. Staff Report Gulf News 2016. All rights reserved.

DME lists two new Middle East fuel oil derivatives

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