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Merge 104.8 | 08 June 2020
After a series of drops, followed by marginal increases in the price of Oman crude oil since the end of May, its price has shot up once again.
As Oman News Agency (ONA) announced today [Monday, June 8] the Dubai Mercantile Exchange said that the price of Oman oil rose by $2.30 US dollars per barrel from the price of last Friday [June 5], which was $41.49 USD.
As per ONA, the average price of Oman oil [June Delivery] has stabilized at $23.65 USD, $11.19 USD per barrel lower than May Delivery 2020.
As of June 1, Oman oil traded above $40 USD per barrel for the first time in three months amid global petroleum markets hard-hit by the economic impact of the COVID-19 pandemic.
Source: ONA
(Also read: ODP helps businesses in Oman to operate remotely during COVID-19.)
