Oman Oil Price Hits RO 68.51 per Barrel: Implications for Investors and Businesses in the Region
MUSCAT: The official price of Oman oil for October delivery has been set at $67.98, marking a decrease of 53 cents from last Friday’s price of $68.51.
For August delivery, the average monthly price of Omani crude oil was $69.37 per barrel, representing an increase of $5.75 compared to the price for July.
In related news, international oil prices remained stable on Monday following a drop of more than 4% last week. Investors are closely watching upcoming discussions between the United States and Russia regarding the ongoing conflict in Ukraine.
At 1003 GMT, Brent crude futures saw a modest rise of 5 cents, reaching $66.73 per barrel, while US West Texas Intermediate crude futures fell by 1 cent, settling at $63.99. — Agencies
Special Analysis by Omanet | Navigate Oman’s Market
The recent decline in Oman oil prices, despite a monthly average increase, signals volatility that businesses must navigate carefully. This dynamic creates cost management opportunities for savvy investors, but also poses risks if global tensions impact supply chains. Strategic investments in alternative energy solutions could provide resilient pathways for entrepreneurs in this fluctuating market.
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