Muscat: Brent crude futures rose by 88 cents, or 0.9 per cent, to reach $102.15 a barrel, while US West Texas Intermediate (WTI) crude futures gained $1.12, or 1.2 per cent, to trade at $96.20 a barrel.
The rebound comes after both benchmark contracts plunged more than 7 per cent on Wednesday amid optimism that tensions in the Middle East could ease following discussions around a possible end to the ongoing conflict in the region.
However, market sentiment shifted after US President Donald Trump stated that it was still “too early” to hold direct talks with Tehran, prompting renewed caution among investors.
Read More
- 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
- Kreston Menon Al Dohh enters Oman market
- Muscat maritime forum to tackle resilience of global trade routes
- Oman Investment Authority leads alliance to launch $500 million Central Asia and Caucasus fund
Meanwhile, the US Energy Information Administration reported that US crude oil and fuel inventories continued to decline last week.
