The Dubai Mercantile Exchange (DME) announced record open interest for its flagship Oman crude oil futures contract late last month, allaying earlier fears that trading in the contract could be affected by changes in the country’s downstream and upstream sectors. This record surpassed a previous high set more than two years ago.

Open interest for DME Oman crude futures was 23,429 lots on 26 March, equivalent to just over 23.4mn barrels of crude; up from the previous record – set on 30 September 2010 – of 21,797 lots, amounting to just under 21.8mn barrels. (CONTINUED - 369 WORDS)