Muscat: Brent crude futures dropped $2, or 2.9 per cent, to $67.28 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell $2, or 3.1 per cent, to $63.17 a barrel.
The decline marks a sharp reversal from recent sessions, during which Brent crude touched its highest level in six months and WTI hovered near its strongest levels since late September.
Market sentiment was also shaped by OPEC+’s latest policy stance. The group agreed at its meeting last Sunday to keep oil production unchanged in March. In addition, OPEC+ had frozen plans last November to increase output between January and March 2026, citing weak seasonal demand.
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