The price of Oman Crude Oil Financial Contract on the Dubai Mercantile Exchange (DME Oman) for delivery in July, slipped US$0.68 on Thursday closing at US$64.6/barrel at DME at 12:30 p.m., Dubai local time.

DME Oman crude oil is considered a benchmark for pricing crude oil by the countries that produce it, and it gives them a differential price that reflects the quality of the product.

The Dubai Mercantile Exchange Limited (DME) is the premier energy-focused commodities exchange in the East of Suez, and home to the world's third crude benchmark.