Oil prices extended gains on today as the market eyed US output concerns in the aftermath of Hurricane Francine and expectations of lower US crude stockpiles. Brent crude futures for November rose 16 cents, or 0.2% at $72.91 a barrel at 0120 GMT. US crude futures for October climbed 34 cents, or 0.5%, at $70.43 a barrel. Both contracts settled higher in the previous session as the ongoing impact of Hurricane Francine on output in the US Gulf of Mexico countered Chinese demand concerns ahead of this week's US Federal Reserve interest rate cut decision, which should prove positive for investor sentiment in oil. Source: Oman News Agency
Related Articles
Murder Toll from Israeli Aggression on Gaza Reaches 55,362 Martyrs
Gaza: The murder toll from the ongoing Israeli aggression on the Gaza Strip since 7 October 2023 has reached 55,362 martyrs and 128,741 wounded.
According to Oman News Agency, the Ministry of Health in Gaza reported that 65 martyrs, including 8 rec…
Meeting Highlights Importance of Open Data in Promoting Transparency, Supporting Digital Transition
Muscat: The Ministry of Transport, Communications and Information Technology today organized an open data meeting to promote transparency, enhance the availability of data to members of the public, support digital transition and innovation, enable dat…
Oman Participates in GCC Financial and Economic Cooperation Committee Meeting
Kuwait city: The Sultanate of Oman took part in the 124th meeting of the Financial and Economic Cooperation Committee of the GCC States, which convened in the State of Kuwait. The gathering focused on discussions aimed at advancing financial and econo…