MUSCAT/ SHANGHAI: Dubai Mercantile Exchange (DME) said that Oman oil price for June delivery reached $69.60. The DME statement said that the price of Oman oil rose 66 cents from the price of Tuesday, which was $68.94.
The average price of Oman oil for April delivery has settled at $64.48, thus $5.12 per barrel higher than March delivery 2019.
Meanwhile, Asian shares rose to seven-month highs as investors lapped up signs of progress in US-China trade talks and brisk economic data, while oil approached the key $70 per barrel mark.
The index has risen nearly 3 per cent since last Thursday following reports of progress in trade talks between the United States and China, as well as reassuring factory activity data from China and the US.
Hopes for a deal to end the trade war between the world’s two largest economies were fanned by fresh comments from White House economic adviser Larry Kudlow that Washington expects “to make more headway” in talks this week.
Even so, analysts struggled to point to a clear catalyst for the extended rally in equities. — Agencies
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