Oman crude oil futures set a new weekly trading volume record, driven by geopolitical developments and changes in trade flows.
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- Data from the Gulf Commodity Exchange shows that during the week of May 11th, Oman crude oil futures trading volume reached a historic record. The Dubai-based exchange issued a statement saying the weekly trading volume amounted to 69,000 contracts, equivalent to 69 million barrels of crude oil, marking the highest weekly transaction volume since the exchange was established.
- The exchange stated that heightened geopolitical tensions, shifting trade flows, and intensified volatility in the global energy market contributed to the weekly trading volume reaching a new record.
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