MUSCAT: Dubai Mercantile Exchange (DME) said that Oman oil price for September delivery on Monday reached $73.07. The DME statement said that the price of Oman oil rose $1.44 from the price of last Friday, which was $71.63. The average price of Oman oil for August delivery has stabilised at $73.61, thus 80 cents per barrel lower than July delivery. Benchmark Brent crude dropped 2.9 per cent, while US light crude fell 2.6 per cent as concerns about supply disruptions eased and Libyan ports reopened, while traders eyed potential supply increases by Russia and other oil producers.
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