Muscat: Brent crude futures inched up by four cents (0.06%) to $71.74 a barrel, while U.S. West Texas Intermediate (WTI) crude rose by just one cent (0.01%) to $69.27. The modest recovery comes after a more than 1% slide the previous day, driven by investor concerns that heightened U.S. tariffs could slow economic activity and reduce fuel demand.
Despite the pause, both benchmarks are set to post strong weekly gains—Brent up 4.9% and WTI up 6.4%. The surge follows U.S. President Donald Trump’s warning earlier this week that buyers of Russian crude, particularly China and India, could face new sanctions.
Read More
- Gold rebounds above $4,600 as markets await fed signals
- Oil prices extend losses as hopes rise over Hormuz talks
- Oman oil price drops by 5.45 US dollars
- Oman’s manufacturing sector targets RO 10.7 billion contribution by 2040
- Asia-Pacific airlines including India may keep fares high despite easing jet fuel prices as demand stays resilient: S&P
