Oman crude oil price drops below $60 mark
February 14, 2018 | 1:17 PM
by Times News Service
Photo used for illustrative purpose. Photo: File.

Muscat: Oman's crude oil prices fell below $60, for the first time this year, as oil price free fall continued this week owing to reports of inventory build-up.

Omani benchmark crude traded at $59.77 at the Dubai Mercantile Exchange, the lowest price since early December. Prices have fallen continuously in the past week with a loss of nearly $7 in 10 days, in what is one of the worst weeks for oil prices in a year.

The International benchmark WTI and Brent are trading at $58.89 and $62.72 today.

Major oil producers have called the recent fall a correction in prices

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