Crude oil prices at $72.39 a barrel

MUSCAT: Dubai Mercantile Exchange (DME) said that Oman oil price for October delivery reached $72.39. The DME statement said that the price of Oman oil on Wednesday declined $1.19. The average price of Oman oil for August delivery has stabilised at $73.61, thus 80 cents per barrel lower than July delivery. Meanwhile, in commodities, oil prices fell on industry data showing an unexpected rise in US crude stockpiles. The slump in crude prices comes after their largest monthly decline in two years in July. US crude dipped 0.8 per cent to $67.98 a barrel, while Brent gave up 1.4 per cent to $73.2 per barrel.