MUSCAT: The official price of Oman crude oil for September delivery rose $2.34 on Tuesday to $81.79 a barrel, up from $79.45 in the previous trading session.
The Oman oil price gained alongside international crude benchmarks as investors assessed reports of renewed diplomatic efforts to ease tensions between the United States and Iran while remaining cautious over continued military exchanges in the region.
Brent crude futures rose 48 cents, or 0.5 per cent, to $89.70 a barrel, while US West Texas Intermediate crude for September delivery gained 50 cents, or 0.6 per cent, to $82.98.
Market sentiment was supported by reports that mediators had proposed a 10-day ceasefire between Washington and Tehran in an effort to revive a June agreement aimed at ending hostilities.
The average official price of Omani crude for July delivery stood at $102 a barrel, $2.73 lower than the average price recorded for June delivery. — Agencies
Oman Observer is now on the WhatsApp channel. Click here
