Crude prices at $62.85 a barrel

MUSCAT: Dubai Mercantile Exchange (DME) said that Oman oil price for January delivery reached $62.85. The DME statement said that the price of Oman oil declined 48 cents from the price of Tuesday, which was $63.33. The average price of Oman oil for November delivery has stabilised at $61.81, thus $2.13 per barrel higher than October delivery. Brent crude oil futures fell more than 1 per cent as the diminishing prospects for a resolution to the long trade war suggested less future demand for energy.