MUSCAT: The official price of Oman crude oil for August delivery rose by 35 cents on Tuesday to reach $91.76 per barrel, compared with Monday’s price of $91.41.
The increase reflects continued movement in global oil markets, with Omani crude maintaining its position above the $90-per-barrel mark.
Meanwhile, data showed that the average monthly price of Oman crude for June delivery stood at $104.73 per barrel. This represents a decline of $19.32 per barrel compared with the average price recorded for May delivery.
Oman crude prices are closely watched as a key indicator of Oman's energy revenues and broader economic performance, given the significant contribution of the hydrocarbons sector to government income and export earnings. — ONA
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