Crude price hits $71.36 a barrel

MUSCAT: Dubai Mercantile Exchange (DME) said that Oman oil price for July delivery on Tuesday reached $71.36. The DME statement said that the price of Oman oil rose $1.22. The average price of Oman oil for May delivery has stabilised at $63.31, thus 30 cents per barrel higher than April delivery. Brent crude futures were $74.84 per barrel, near the 3½ year high of $75.47 a barrel set last week. Gold slid to a two-month low as the dollar strengthened. Spot gold was down at $1,306.26 an ounce.