Oman crude oil price inches towards $70 a barrel

Muscat: The price of Oman crude has come to within sight of $70 a barrel, according to the Dubai Mercantile Exchange.

A statement released by the DME said, “The marker price on September 17 for November 2019’s Oman crude oil futures contract is $68.44, with a change of $3.88.”

This is the second time in two days that the price of Oman crude oil has risen significantly: on 16 September, the price of crude oil from Oman rose by $5.31, jumping from $59.25 to $64.56 in a single day, after it had been hovering around the 60 dollar mark for a few days.

As of 4 September, 17.49 million barrels of Oman crude oil had been scheduled for delivery in October 2019, according to the Dubai Mercantile Exchange.