Singapore: Brent crude futures dropped by 25 cents to settle at $68.96 a barrel, while U.S. West Texas Intermediate (WTI) crude futures slipped 34 cents to $66.64. Both contracts had already fallen more than a dollar in the previous session, continuing a downward trend triggered by geopolitical tensions and concerns over future demand.
Tariffs could slow economic growth, which could reduce global demand for fuel and lead to lower oil prices.
Read More
- World Bank forecasts 23% rise in global commodity prices in 2026
- Oman signs 28 investment deals worth more than RO 304 million
- Gold prices edge higher as markets await US Federal Reserve decision
- Bank Muscat showcases its banking solutions at “Happy City Journey” as part of Urban October 2026
- Oman’s Phaze Ventures launches two funds targeting over $75 million for AI and deep tech
