SINGAPORE - * The Dubai Mercantile Exchange (DME) said on Monday it had 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

* The deadline to submit comments is May 21, DME said

* 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 Oman and Murban grades, trade sources said earlier 

(Reporting by Florence Tan; Editing by Tom Hogue and David Evans) ((Florence.Tan@thomsonreuters.com; +65 6870 3497; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))