Crude price rises to touch $62.58

MUSCAT: Dubai Mercantile Exchange (DME) said that Oman oil price for May delivery reached $62.58. The DME statement said that the price of Oman oil rose 62 cents from the price of Monday which was $61.96. The average price of Oman oil for March delivery has stabilised at $66.32, thus $4.75 per barrel higher than February delivery. Meanwhile, US West Texas Intermediate crude futures traded at $62.69 per barrel.