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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

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Crude prices hit new low on Monday

Oman Observer

Oman Observer

Published: 1:14 PM, Mar 30, 2020

Crude

Crude

Muscat: The Oman Crude was traded at $23.95 Dubai Mercantile Exchange for May delivery.

The crude price witnessed a decrease of $2.17 compared to Friday’s price of $ 26.12.

Globally, oil prices fell to the lowest in more than 17 years as demand plunged as a result of the pandemic and an unrelenting price war between Saudi Arabia and Russia showed no signs of easing.

Brent crude prices hit $23.03 a barrel on Monday morning during Asia hours – the lowest level since November 15, 2002. It has since clawed back some losses following that recorded decline but was last still 5.86 percent lower at $23.47 a barrel.

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