Crude prices at $71.20 a barrel

MUSCAT: Dubai Mercantile Exchange (DME) said that Oman oil price for June delivery reached $71.20. The DME statement said that the price of Oman oil on Monday declined $2.30 from the price of last Friday, which was $73.50. The average price of Oman oil May delivery has stabilised at $66.98, thus $2.50 per barrel higher than April delivery. Meanwhile, oil prices fell, extending a slump from Friday that ended weeks of rallying, after President Donald Trump demanded that producer club Opec raise output to soften the impact of US sanctions against Iran. Brent crude fell half a per cent to $71.81 per barrel.