THE official price of Oman crude oil for May delivery plunged by $30.09 and stood at $109.55 per barrel on Monday. The price of Oman crude was $139.64 per barrel on Tuesday.
It is noteworthy that the monthly average price of Oman crude oil for March delivery reached $62.17 per barrel, marking an increase of eight cents compared to the February delivery price. Meanwhile, global oil prices fell by more than five per cent on Wednesday amid expectations of a possible ceasefire that would ease supply disruptions from the main producing region in the Middle East, following reports that the United States had sent Iran a 15-point plan to end the war between them.
Brent crude futures fell $6.21, or 5.9 per cent, to $98.28 a barrel, while US West Texas Intermediate (WTI) crude futures dropped $4.67, or 5.1 per cent, to $87.68 a barrel. — ANI
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