Dubai's oil futures market plans swaps

13 June 2010

Thomas Leaver, CEO of Dubai Mercantile, has said the oil futures market plans to introduce Oman crude-based swaps contracts to woo Asian refiners away from Dubai-linked derivatives sold in the over-the-counter market, Bloomberg has reported. The new derivatives will help refiners manage their price risk based on Oman's output of 850,000 barrels a day rather than Dubai's 80,000 barrels a day, he said. The exchange will offer both swaps and options this year once regulators approve them, Leaver noted.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.