Muscat- The official price of Oman crude oil for May delivery dropped by $20.56 to $139.64 from Monday's price of $160.20.
The monthly average price of Omani crude oil for delivery this March reached US$62.17 per barrel, an increase of 8 cents compared to the price for delivery last February.
Stocks rose Tuesday after Donald Trump delayed strikes on Iranian energy sites and hailed “very good” talks with Tehran, but oil prices rebounded as optimism over a possible de-escalation of the Middle East war remained shaky.
The news ramped up hopes for an end to the conflict and the reopening of the Strait of Hormuz, through which about a fifth of global oil and gas normally flows.
Brent slumped as much as 14 percent at one point to $96, while all three main indexes on Wall Street climbed more than one percent, with commentators suggesting prices could drop to as low as $90.
However, the mood was deflated somewhat after Iranian media said there had been no talks between Tehran and Washington.
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