Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, has reported a new exchange-wide open interest record of 71,586 lots on July 31.

This total is equivalent to almost 71.5 million barrels of crude oil, said a statement from DME.

The latest figure surpasses the previous open interest record of 69,183 lots, which was set on May 31, it said.

This new record is a testament to the efficiency and benefit of procuring and hedging crude oil via the most active trading window in the regional commodity markets, with over 100 participants contributing to DME’s price formation on a daily basis, it added. – TradeArabia News Service