Muscat: Brent crude futures rose by $1.23, or 1.17 percent, to reach $106.3 per barrel, while West Texas Intermediate (WTI) crude futures gained $1.07, or 1.12 percent, settling at $96.92 per barrel.
The upward movement follows strong gains recorded at the close of the previous trading session, as markets reacted to reports of security developments in Iran.
Adding to the uncertainty is the unclear future of ongoing talks between Iran and the United States, which has further fueled apprehensions in global energy markets. Analysts note that any disruption in supply from the region could have significant implications for oil prices in the coming days.
Read More
- Meethaq Islamic Banking main sponsor of the third Hajj and Umrah Conference and Exhibition
- Al Mouj Muscat’s young entrepreneur market attracts 25,700 visitors
- Oman’s Nama Distribution to invest RO 600 million in power networks, expand data-driven operations
- Joyalukkas breaks two Guinness World Records titles with the world’s heaviest and largest pair of gold earrings
- IMF mission to begin Oman economic review on October 25
