Omani Crude Drops Below $64 as July Delivery Prices Weaken

Muscat : Omani crude oil prices slipped below the $64 mark for July delivery, reflecting continued volatility in global energy markets.

According to data from the Dubai Mercantile Exchange (DME), the monthly average price of Omani crude for May delivery was recorded at $72.51 per barrel, marking a notable decline of $5.12 compared to April’s average.

The drop underscores the broader trend of uncertainty and fluctuation in global oil markets, influenced by shifting demand dynamics, geopolitical developments, and supply-side considerations. Market analysts continue to monitor factors such as global economic indicators, OPEC+ production strategies, and evolving energy transition policies that could impact future pricing.