MUSCAT: Dubai Mercantile Exchange (DME) said that Oman oil price for August delivery reached $64.10. The DME statement said that the price of Oman oil rose 72 cents from the price of Tuesday, which was $63.38. The average price of Oman oil for July delivery has stabilised at $69.99, thus $1.17 per barrel lower than June delivery. Meanwhile, US crude oil futures advanced roughly 2 per cent to a four-week high of $59.10 per barrel after data showed a decline in US crude stockpiles. Gold pulled back from the near-six-year highs it reached on Tuesday amid escalating tensions between the US and Iran, slipping more than 1 per cent on Wednesday.
Oman Observer is now on the WhatsApp channel. Click here
