Dubai crude to sell at lower price

The Dubai Department of Oil Affairs announced on Thursday that it has set the official selling price of the Dubai crude for the next October at 25 cents less than the Oman futures contract for that month.

The October Oman OSP is the average of settlement prices traded on the Dubai Mercantile Exchange (DME) next month.

The DME, the first stock exchange for trading commodity futures and energy in the Middle East, provides a business environment characterized by transparency and financial security and are subject to the laws of the court.

The Dubai crude is a Gulf benchmark for Asia.

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