Oman Daily Observer

CRUDE PRICE AT $68.75 A BARREL

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Oman oil price for September delivery on Wednesday reached $68.75, an increase of $1.31 from the price of Tuesday, which was $67.44. The average price of Oman oil for July delivery has stabilised at $66.40, thus $3.30 per barrel higher than June delivery. Meanwhile, world oil prices extended gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in US oil inventorie­s last week and a weaker demand outlook due to rising Covid-19 infections. Brent crude futures gained 84 cents, or 1.2 per cent, to $70.19 a barrel at 10:21 GMT, having hit a session low of $68.63.

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