Muscat: Oil prices advanced today following fresh US strikes against Iran, dimming hopes for an end to the conflict. Brent crude futures climbed 78 cents, or 1 percent, to USD 78.80 per barrel, while West Texas Intermediate crude futures gained 74 cents, or 1.01 percent, to settle at USD 74.26 per barrel.
According to Oman News Agency, both benchmarks had surged by more than a dollar in after-hours trading yesterday following the onset of new US military strikes against Iran. Prior to that, the two benchmark crudes had settled at their highest levels in more than two weeks.