Oman Crude trades at $94.47 amid war escalation

Muscat:  The official price of Oman crude oil for delivery in May reached $94.47 per barrel on Wednesday, according to data issued by the Oman News Agency (ONA).

Earlier, the official price of Oman crude for April delivery had reached $85.93 per barrel, marking an increase of $3.84 compared to the previous day’s price of $82.09.

Global oil prices continued to rise as tensions in the Middle East intensified amid the ongoing conflict involving Iran, the United States and Israel, raising concerns over potential disruptions to energy supplies in the region.

Oil prices surged more than 3 per cent during the day and have climbed by over 15 per cent so far this week as the conflict entered its sixth day, heightening fears that rising energy costs could impact the broader global economy.