MUSCAT : Brent crude futures fell 24 cents, or 0.40 per cent, to $60.32 a barrel, while U.S. West Texas Intermediate (WTI) crude slipped 22 cents, or 0.39 per cent, to $56.60 a barrel.
Markets reacted to signs that negotiations to end the Russia–Ukraine conflict may be gaining momentum. U.S. officials said Washington has offered Ukraine security guarantees similar to those provided by NATO, an unprecedented move that has raised optimism in parts of Europe that talks could be nearing a negotiated conclusion.
Adding to the pressure were fresh concerns from China, the world’s largest oil importer. Official data released yesterday showed Chinese factory output growth slowing to its weakest pace in 15 months, while retail sales rose at their slowest rate since December 2022.
Read More
- Bank Muscat and Meethaq Islamic Banking’s “Back to School” event draws strong family turnout at Muscat City Centre
- Oman’s trade surplus reaches RO 4.7 billion by end-June 2026
- Oman, China discuss new partnerships in economic zones and industry
- Oman’s Al Suwaiq Industrial City sees investment boom with new factories underway
- Oil prices rise again as Middle East disruptions deepen
For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.
