Crude prices at $50.47 a barrel

Dubai Mercantile Exchange (DME) said that Oman oil price for April delivery on Thursday reached $50.47. The DME statement said that the price of Oman oil declined $2.55 from the price of Wednesday, which was $53.02. The average price of Oman oil for March delivery has stabilised at $64.89, thus 60 cents per barrel lower than February delivery. Brent crude is down 1.4 per cent at $52.68 per barrel.