Crude price hits $60.29 a barrel

MUSCAT: Dubai Mercantile Exchange (DME) said that Oman oil price for January delivery reached $60.29. The DME statement said that the price of Oman oil rose 35 cents from the price of Wednesday which was $59.94. The average price of Oman oil for December delivery has stabilised at $55.59, thus $1.58 per barrel higher than November delivery. Meanwhile, US crude slipped 18 cents to $55.16 a barrel. Brent crude futures were 34 cents lower at $61.53.