MUSCAT : The price of Omani crude gained $2.53, up from $58.56 recorded in the previous trading session, reflecting renewed momentum in oil prices worldwide.
On a monthly basis, the average price of Omani crude for January delivery stood at $64.44 per barrel, registering a decline of 60 cents compared to the December delivery average last year.
Globally, oil prices advanced for the second consecutive day and are now heading toward their third weekly gain. Brent crude futures rose 44 cents, or 0.71%, to $62.43 a barrel, while U.S. West Texas Intermediate crude increased by 39 cents, or 0.68%, to $58.15 a barrel.
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Both benchmark crude oils surged by more than 3% on Thursday after two straight sessions of decline. On a weekly basis, Brent crude is on track for a 2.7% gain, while West Texas Intermediate is heading toward a 1.4% weekly increase, underscoring improving sentiment in the oil market.
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