Crude oil crosses $75 for the first time in two years | Times of Oman

Crude oil crosses $75 for the first time in two years | Times of Oman

Oman oil price (August delivery 2021) on Tuesday reached $72. 86 (OMR28), an increase by 95 cents (400 baisas) from the price on Monday, which was at $71. 91 (OMR27. 7). Muscat: For the first time since April 2019, crude oil prices rose to a new high and traded above $75 a barrel on Tuesday. While the US West Texas Intermediate (WTI) crude futures rose by 0. 03 per cent to $73. 68, the Brent crude futures also rose 0. 35 percent to $75. 16 a barrel. Most of the crude oil benchmarks have seen a steady rally in prices in the past few weeks and experts expect the prices to continue to rise as global COVID-19 vaccination drives speed up and economic sentiments turn positive. Meanwhile, the Oman oil price (August delivery 2021) on Tuesday reached $72. 86 (OMR28), an increase by 95 cents (400 baisas) from the price on Monday, which was at $71. 91 (OMR27. 7). "The average price of Oman oil (June Delivery 2021) has stabilised at $63. 10, thus it's $1. 33 per barrel lower than May Delivery 2021," Dubai Mercantile Exchange (DME) said. BofA Global Research raised its Brent crude price forecasts for this