Oman crude prices touch $69 a barrel

MUSCAT/LONDON: Dubai Mercantile Exchange (DME) said that Oman oil price for June delivery reached $68.94. The DME statement said that the price of Oman oil rose 70 cents from the price of Monday, which was $68.24. The average price of Oman oil for April delivery has stabilised at $64.48, thus $5.12 per barrel higher than March delivery. Meanwhile, global markets’ fast start to the year continued on Tuesday as world shares inched to a six-month high, Brent oil neared $70 a barrel for the first time since November and the dollar showed renewed signs of strength. Some brightening of the global industrial mood — at least in China and the United States — had to compete with another dour US retail sales report, Britain’s broken Brexit plans and turbulence in Turkey, but it seemed to be enough. European bourses shook off an early wobble to climb for a third day. — Agencies