Latest news with #GulfMercantileExchange
Zawya
26-03-2025
- Business
- Zawya
Gulf Mercantile Exchange marks first trade on ACE
Gulf Mercantile Exchange (GME), a leading international energy futures and commodities exchange in the Middle East, has announced the first trade on its Alternative Crude Ecosystem (ACE), thus setting a new era for Middle East crude trading. . This innovative bilateral trading platform allows market participants to trade multiple crude grades seamlessly through the exchange. For the first time, Oman, Al Shaheen, Basrah Medium, Basrah Heavy, Dubai, Murban, and Upper Zakum, are all accessible on a single platform as differentials against the GME Oman sour crude futures benchmark. The milestone trade involved 500 contracts of Oman Crude Oil for delivery in May 2025. ACE provides traders with a groundbreaking opportunity to engage in bilateral trading of various Middle Eastern crude grades against GME Oman Futures. This functionality enhances market efficiency by enabling participants to execute multiple Over-the-Counter (OTC) crude transactions as differentials, further strengthening the role of GME Oman as a key benchmark. "The first ACE trade represents a significant evolution in the region's crude trading landscape," said Raid Al Salami, the Managing Director of GME. "For the first time, market participants can access a seamless, transparent, and efficient platform that integrates both futures and OTC trading. This empowers traders to optimize their portfolios, manage exposure across multiple crude grades, and capture new opportunities in an evolving energy market," he stated. With this latest offering, it continues to reinforce its position as a global leader in energy trading, providing innovative solutions that meet the needs of the market while upholding the integrity and reliability of the GME Oman benchmark, he added. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Bloomberg
25-03-2025
- Business
- Bloomberg
Saudi-Backed Oil Exchange Sees First Trade on OTC Platform
The Saudi-backed exchange for Oman oil futures said a new over-the-counter platform allowing customers to trade physical cargoes of various crudes saw its first trade, part of an effort to help bolster the bourse's aim to provide a regional benchmark. The Gulf Mercantile Exchange, in which the Saudi bourse bought about a third in 2014, set up the new platform allowing traders to deal in Omani crude or other comparable grades in bilateral deals.
Zawya
24-03-2025
- Business
- Zawya
8unhyji
Gulf Mercantile Exchange (GME) announced the first trade on its Alternative Crude Ecosystem (ACE). This innovative bilateral trading platform allows market participants to trade multiple crude grades seamlessly through the exchange. For the first time, Oman, Al Shaheen, Basrah Medium, Basrah Heavy, Dubai, Murban, and Upper Zakum, are all accessible on a single platform as differentials against the GME Oman sour crude futures benchmark. The milestone trade involved 500 contracts of Oman Crude Oil for delivery in May 2025. ACE provides traders with a groundbreaking opportunity to engage in bilateral trading of various Middle Eastern crude grades against GME Oman Futures. This functionality enhances market efficiency by enabling participants to execute multiple Over-the-Counter (OTC) crude transactions as differentials, further strengthening the role of GME Oman as a key benchmark. "The first ACE trade represents a significant evolution in the region's crude trading landscape," said Raid Al-Salami, Managing Director of GME. "For the first time, market participants can access a seamless, transparent, and efficient platform that integrates both futures and OTC trading. This empowers traders to optimise their portfolios, manage exposure across multiple crude grades, and capture new opportunities in an evolving energy market."
Zawya
24-03-2025
- Business
- Zawya
GME marks first trade on ACE: A new era for Middle East crude trading
Dubai, UAE: Gulf Mercantile Exchange (GME), the leading international energy futures and commodities exchange in the Middle East, announced the first trade on its Alternative Crude Ecosystem (ACE). This innovative bilateral trading platform allows market participants to trade multiple crude grades seamlessly through the exchange. For the first time, Oman, Al Shaheen, Basrah Medium, Basrah Heavy, Dubai, Murban, and Upper Zakum, are all accessible on a single platform as differentials against the GME Oman sour crude futures benchmark. The milestone trade involved 500 contracts of Oman Crude Oil for delivery in May 2025. ACE provides traders with a groundbreaking opportunity to engage in bilateral trading of various Middle Eastern crude grades against GME Oman Futures. This functionality enhances market efficiency by enabling participants to execute multiple Over-the-Counter (OTC) crude transactions as differentials, further strengthening the role of GME Oman as a key benchmark. "The first ACE trade represents a significant evolution in the region's crude trading landscape," said Raid Al-Salami, Managing Director of GME. "For the first time, market participants can access a seamless, transparent, and efficient platform that integrates both futures and OTC trading. This empowers traders to optimize their portfolios, manage exposure across multiple crude grades, and capture new opportunities in an evolving energy market." With this latest offering, GME continues to reinforce its position as a global leader in energy trading, providing innovative solutions that meet the needs of the market while upholding the integrity and reliability of the GME Oman benchmark.
Bloomberg
05-03-2025
- Business
- Bloomberg
Middle East Oil Plunges as Rising OPEC+ Supplies Rattle Market
Oil prices in the Middle East tumbled as the prospect of higher supplies from OPEC+ sparked a selloff in the region's crudes. The cost of Oman crude on the Gulf Mercantile Exchange slipped below Brent on Tuesday for the first time since late 2024, according to data compiled by Bloomberg. That marks the end of the Middle Eastern grade's longest run of premiums over the global benchmark since 2023.
