Front-month August DME Oman traded at a high of $40.09/b, up $0.30/b from Friday’s settlement price of $39.79/b. Oman last traded above $40/b on March 6 of this year, said a statement from DME.
The DME Marker Price for Monday was set earlier in the day at $39.62/b.
The Marker Price is used by Middle East producers Saudi Arabia, Kuwait, Bahrain, Oman and Dubai in calculating the monthly Official Selling Price (OSP), said the DME statement.
Middle East prices have recovered faster than those in Europe, with DME Oman trading at around $2/b over the Brent North Sea benchmark on Monday, it added.
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