DUBAI, UAE / MENA Newswire / — Gulf Mercantile Exchange recorded the highest weekly trading volume in its history during the week of May 11, 2026, with more than 69,052 contracts traded, equal to about 69 million barrels of Oman crude oil, according to information released by the exchange. The weekly total marked the strongest trading period since the exchange began operations two decades ago.
The record was tied to trading in GME Oman Crude Oil Futures, the exchange’s flagship contract and a regional benchmark used for Middle East crude pricing and risk management. Each contract represents 1,000 barrels, making the reported weekly volume one of the largest activity markers published by Gulf Mercantile Exchange since its launch.
The exchange said the week’s activity came during a period of heightened volatility across global energy markets, where crude participants continued to use physically connected benchmarks to manage price exposure. The volume milestone also placed renewed attention on Oman crude as a reference grade for oil flows linked to Asian demand centers.
Oman crude benchmark activity rises
GME said its Oman crude contracts have handled more than 23 billion barrels since inception, while the exchange has facilitated the physical delivery of more than 3 billion barrels. Those figures reflect cumulative activity across the platform and underline the contract’s role in regional crude pricing, particularly for barrels moving from the Middle East to Asia.
Raid Al-Salami, managing director of GME, said the trading performance reflected market confidence in GME Oman as a benchmark and risk management tool for global energy participants. The exchange has positioned the contract as a transparent pricing mechanism for crude market users seeking exposure to a deliverable Middle East grade.
Exchange marks two-decade milestone
Gulf Mercantile Exchange was established as a commodities platform focused on energy markets, with Oman crude futures serving as its central product. The exchange was formerly known as Dubai Mercantile Exchange and operates in connection with regional crude trade, clearing and benchmark pricing mechanisms used by commercial participants.
The latest weekly record adds to a series of historical volume milestones for the exchange as oil markets track supply, demand, freight and geopolitical developments. GME said its contracts continue to support price discovery for Middle East crude, with Oman crude maintaining a central role in the platform’s trading activity and physical delivery framework.