Tuesday, March 19, 2024 | Ramadan 8, 1445 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Oman crude crosses $60/b for first time in 13 months

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MUSCAT: The Oman Crude Oil Futures Contract (OQD) crossed the $60 per barrel mark for the first time in 13 months on the Dubai Mercantile Exchange (DME) on Tuesday, mirroring a trend witnessed by most international benchmarks across the world.


The marker price of the Omani benchmark for April 2021 delivery was $60.50 a barrel — a level last seen on January 29, 2020. The price was up $0.76 from the previous session of $59.74 a barrel, buoyed by optimism over a recovery in fuel demand.


Brent crude futures for April gained 50 cents, or 0.8 per cent, to $61.06 a barrel.


US West Texas Intermediate crude (WTI) for March was at $58.37 a barrel, up 40 cents, or 0.7 per cent. Both Brent and WTI touched their highest since January 2020 earlier in the session.


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