Vitol and Aegean Marine Petroleum Network have completed the first-ever trade of fuel oil derivatives on the Dubai Mercantile Exchange (DME).

The energy trader and the US-listed bunker company swapped 7,000t (about 45,000 barrels) of July 180-centistoke on Monday, the DME confirmed.

Middle East 180cst and 380cst high-sulfur fuel oil (HSFO) first became available for trading on the Dubai exchange on May 16, settling against the MOPAG 180cst and MOPAG 380cst assessments provided by price reporting agency Platts.

DME