Muscat: Oman crude was traded for $80 per barrel for the second consecutive day to close at $80.43 for February delivery.
On Tuesday, Oman crude was traded at $80.62.
The average price of Oman oil (December Delivery 2022) has stabilized at $90.79 US, one cent per barrel lower than November Delivery 2022.
Oil prices have been fluctuating on concerns that rising COVID-19 cases in China, the world's top oil importer, will disrupt its economic recovery as it unwinds its pandemic restrictions, limiting fuel demand growth.
Crude had risen to their highest in three weeks on Tuesday in hopes for a fuel demand boost after the country said it will stop requiring inbound travelers to go into quarantine starting from Jan. 8, a major step towards relaxing stringent curbs on its borders.
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