Crude prices rise to touch $77.29

MUSCAT: Dubai Mercantile Exchange (DME) said that Oman oil price for November delivery on Tuesday reached $77.29. The DME statement said that the price of Oman oil rose $1 from the price of Monday, which was $76.29. The average price of Oman oil for September delivery has stabilised at $73.17, thus 44 cents per barrel lower than August delivery. Brent crude was up at $79.03 per barrel after earlier trading lower on news that India had permitted its state refiners to import Iranian oil if Iran arranged tankers and insurance.