Brent crude futures dove below $80 and are down more than a third from recent peaks following reports that the U.S. will waive sanctions on Iranian oil, under a deal to end the war. The prospect of extra supply added to optimism about the resumption of Middle East exports and helped push yields on U.S. […]
US President Donald Trump hailed the deal ending the US-Israel war with Iran with a triumphant message: “Ships of the World, start your engines. Let the oil flow!” he wrote on his online social media platform. But how realistic is a swift resumption of ship movement through the Strait of Hormuz? Oil traders are hopeful. […]
Muscat: The GME Oman marker price for the August 2026 Oman Crude Oil Futures Contract fell to $72.99 per barrel on June 16, recording a decline of $3.94, as global oil prices slipped to fresh three-month lows amid easing supply concerns. The latest price marks a sharp retreat from the recent high seen in Oman […]
Share markets surged in Asia on Monday while the dollar slipped and oil prices tumbled as a tentative peace deal between the United States and Iran promised to ease inflationary pressures globally and lessen the need for higher interest rates. Pakistani Prime Minister Shehbaz Sharif said on social media early on Monday that a deal […]
MUSCAT, JUNE 8 Oman will see its crude oil production increased by 5,000 barrels per day (bpd) in July 2026 under the latest output adjustment agreed by Opec+, lifting the Sultanate of Oman’s production ceiling to 831,000 bpd. The increase forms part of a collective decision by seven Opec+ producers — Saudi Arabia, Russia, Iraq, […]
MUSCAT: The official price of Oman crude oil for August delivery rose by $2.49 on Monday to reach $93.38 per barrel, compared with $90.89 recorded at the close of trading last Friday. The increase came amid a broader rally in global oil markets, with crude prices rising more than 4 per cent following renewed geopolitical […]
MUSCAT: Oman is advancing a broad set of initiatives aimed at raising oil and gas production efficiency while expanding the use of renewable energy and cutting carbon emissions across the sector. The Ministry of Energy and Minerals said its efforts are aligned with Oman Vision 2040 and the national target to achieve net zero by […]
SINGAPORE: (Reuters) – Oil prices jumped on Thursday on the escalation of hostilities between the U.S. and Iran, but later pared gains as traders assessed the actual impact on supply disruptions. Tehran declared the Strait of Hormuz closed after the U.S. launched additional strikes against Iran and as President Donald Trump vowed even more attacks […]
