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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Crude oil price at $71 a barrel

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MUSCAT: Dubai Mercantile Exchange (DME) said that the price of Oman crude oil for October delivery reached $71. The DME statement said that the price of Oman oil rose 39 cents from the price of Friday which was $70.61. The average price of Oman oil for September delivery settled at $73.17, thus $0.44 per barrel lower than August delivery. Meanwhile, brent oil stabilised after several weeks of decline, weighed down by concern over slowing global economic growth but supported by an expected fall in supply from Iran caused by US sanctions. Brent was 0.3 per cent higher at $72.06 a barrel.


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