Muscat: The Oman Crude was traded at $23.95 Dubai Mercantile Exchange for May delivery.
The crude price witnessed a decrease of $2.17 compared to Friday’s price of $ 26.12.
Globally, oil prices fell to the lowest in more than 17 years as demand plunged as a result of the pandemic and an unrelenting price war between Saudi Arabia and Russia showed no signs of easing.
Brent crude prices hit $23.03 a barrel on Monday morning during Asia hours – the lowest level since November 15, 2002. It has since clawed back some losses following that recorded decline but was last still 5.86 percent lower at $23.47 a barrel.