Crude price hits $72.44 a barrel

MUSCAT: Dubai Mercantile Exchange (DME) said that Oman oil price for September delivery on Monday reached $72.44. The DME statement said that the price of Oman oil declined $1.32 from the price of last Friday, which was $73.76. The average price of Oman oil for August delivery has stabilised at $73.61, thus 80 cents per barrel lower than July delivery. Meanwhile, US crude added 132 cents to $70.01, while Brent rose 73 cents to $74.83 a barrel. Spot gold eased 0.07 per cent to $1,221.48.